Based on 12 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SRS 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.
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Below peak — only 60% of 3.0Y high
60% of all-time peak
Only 12 funds hold SRS today versus a peak of 20 funds at 2023 Q3 — just 60% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Fast accumulation — +50% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+50% 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.
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More buyers than sellers — 64% buying
7 buying4 selling
Last quarter: 7 funds were net buyers (5 opened a brand new position + 2 added to an existing one). Only 4 were sellers (4 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 2 → 1 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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75% of holders stayed for 2+ years
■ 75% conviction (2yr+)
■ 8% medium
■ 17% new
9 out of 12 hedge funds have held SRS 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.
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Steady discovery — ~5 new funds/quarter
1 → 3 → 2 → 1 → 5 new funds/Q
New funds entering each quarter: 3 → 2 → 1 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 86% of holders stayed 2+ years
■ 86% veterans
■ 0% 1-2yr
■ 14% new
Of 14 current holders: 12 (86%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 71% AUM from top-100 funds
71% from top-100 AUM funds
6 of 12 holders are among the 100 largest funds by AUM, controlling 71% of total institutional value in SRS. 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 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.