Based on 13 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SRL 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 — 76% of 3.0Y peak
76% of all-time peak
13 funds currently hold this stock — 76% of the 3.0-year high of 17 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +8% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 30% buying
3 buying7 selling
Last quarter: 7 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 2 → 3 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 38% medium
■ 15% new
6 out of 13 hedge funds have held SRL 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 -1%, value -63%
Last quarter: funds added -1% more shares while total portfolio value only changed -63%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
1 → 3 → 2 → 3 → 0 new funds/Q
New funds entering each quarter: 3 → 2 → 3 → 0. SRL is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 69% veterans vs 15% newcomers
■ 69% veterans
■ 15% 1-2yr
■ 15% new
Entry-cohort mix of 13 holders: 9 (69%) are 2+ year veterans, 2 entered 1–2 years ago, and 2 (15%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
5 of 13 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.