Based on 22 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SPXV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 85% of 3.0Y peak
85% of all-time peak
22 funds currently hold this stock — 85% of the 3.0-year high of 26 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +10% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+10% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 45% buying
9 buying11 selling
Last quarter: 11 funds reduced or exited vs 9 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 1 → 6 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
41% of holders stayed for 2+ years
■ 41% conviction (2yr+)
■ 36% medium
■ 23% new
9 out of 22 hedge funds have held SPXV for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎
Buying through price weakness — shares -7%, value -38%
Last quarter: funds added -7% more shares while total portfolio value only changed -38%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~4 new funds/quarter
4 → 3 → 1 → 6 → 4 new funds/Q
New funds entering each quarter: 3 → 1 → 6 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 45% veterans vs 32% newcomers
■ 45% veterans
■ 23% 1-2yr
■ 32% new
Entry-cohort mix of 22 holders: 10 (45%) are 2+ year veterans, 5 entered 1–2 years ago, and 7 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 68% AUM from top-100 funds
68% from top-100 AUM funds
6 of 21 holders are among the 100 largest funds by AUM, controlling 68% of total institutional value in SPXV. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.