Based on 59 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their STRO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 46% of 3.0Y high
46% of all-time peak
Only 59 funds hold STRO today versus a peak of 129 funds at 2024 Q3 — just 46% 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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Outflows — 50% fewer funds vs a year ago
fund count last 6Q
58 fewer hedge funds hold STRO compared to a year ago (-50% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 12% buying
11 buying84 selling
Last quarter: 84 funds sold vs only 11 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 20 → 29 → 9 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 25% medium
■ 10% new
38 out of 59 hedge funds have held STRO 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.
💰
Price up while funds trimmed (+40% value, -90% shares)
Last quarter: total value of institutional STRO holdings rose +40% even though funds reduced share count by 90%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
⚠️
Saturation — most institutions already know this story
20 → 20 → 29 → 9 → 11 new funds/Q
New funds entering each quarter: 20 → 29 → 9 → 11. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 8% 1-2yr
■ 20% new
Of 59 current holders: 42 (71%) 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.
📋
Smaller funds dominant — 11% AUM from top-100
11% from top-100 AUM funds
15 of 59 holders rank in the top 100 by AUM, but together hold only 11% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.