Based on 41 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added SPRX than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
41 hedge funds hold SPRX right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀
Fast accumulation — +356% more funds vs a year ago
fund count last 6Q
+32 new funds entered over the past year (+356% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 72% buying
26 buying10 selling
Last quarter: 26 funds were net buyers (15 opened a brand new position + 11 added to an existing one). Only 10 were sellers (8 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 5 → 15 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 66% entered in last year
■ 7% conviction (2yr+)
■ 27% medium
■ 66% new
Only 3 funds (7%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Growing discovery — still being found
1 → 7 → 5 → 15 → 15 new funds/Q
New funds entering each quarter: 7 → 5 → 15 → 15. A growing number of institutions are discovering SPRX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 76% of holders entered in last year
■ 10% veterans
■ 15% 1-2yr
■ 76% new
Of 41 current holders: 31 (76%) entered in the past year, only 4 (10%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Smaller funds dominant — 4% AUM from top-100
4% from top-100 AUM funds
4 of 41 holders rank in the top 100 by AUM, but together hold only 4% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
6.6
out of 10
Moderate Exit Risk
Exit risk score 6.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.