Based on 29 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SRV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
29 hedge funds hold SRV 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.
📶
Steady growth — +7% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 61% buying
20 buying13 selling
Last quarter: 20 funds were net buyers (9 opened a brand new position + 11 added to an existing one). Only 13 were sellers (3 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 8 → 8 → 9. 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+)
■ 21% medium
■ 38% new
12 out of 29 hedge funds have held SRV 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.
💰
Value +15811% but shares only +119% — price-driven
Last quarter: the total dollar value of institutional holdings rose +15811%, but actual share count only changed +119%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~9 new funds/quarter
7 → 4 → 8 → 8 → 9 new funds/Q
New funds entering each quarter: 4 → 8 → 8 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 41% of holders stayed 2+ years
■ 41% veterans
■ 21% 1-2yr
■ 38% new
Of 29 current holders: 12 (41%) 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.
🏆
Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
7 of 29 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in SRV. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.