Based on 171 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their SSTK positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 74% of 3.0Y peak
74% of all-time peak
171 funds currently hold this stock — 74% of the 3.0-year high of 232 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 17% fewer funds vs a year ago
fund count last 6Q
35 fewer hedge funds hold SSTK compared to a year ago (-17% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 43% buying
80 buying108 selling
Last quarter: 108 funds reduced or exited vs 80 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.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new SSTK position: 38 → 37 → 21 → 29. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 22% medium
■ 18% new
103 out of 171 hedge funds have held SSTK 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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Peak discovery — momentum slowing
23 → 38 → 37 → 21 → 29 new funds/Q
New funds entering each quarter: 38 → 37 → 21 → 29. SSTK is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 11% 1-2yr
■ 22% new
Of 175 current holders: 118 (67%) 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.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
32 of 171 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.