Based on 116 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added STPZ 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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At the ownership peak (99% of max)
99% of all-time peak
116 hedge funds hold STPZ 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.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding STPZ is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 59% buying
67 buying46 selling
Last quarter: 67 funds bought or added vs 46 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new STPZ position: 16 → 19 → 12 → 21. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 16% medium
■ 18% new
77 out of 116 hedge funds have held STPZ 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 — ~21 new funds/quarter
17 → 16 → 19 → 12 → 21 new funds/Q
New funds entering each quarter: 16 → 19 → 12 → 21. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 68% veterans vs 22% newcomers
■ 68% veterans
■ 9% 1-2yr
■ 22% new
Entry-cohort mix of 117 holders: 80 (68%) are 2+ year veterans, 11 entered 1–2 years ago, and 26 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
17 of 116 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.