Based on 6 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 SVII 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 13% of 3.0Y high
13% of all-time peak
Only 6 funds hold SVII today versus a peak of 46 funds at 2023 Q2 — just 13% 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 — 57% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold SVII compared to a year ago (-57% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 22% buying
4 buying14 selling
Last quarter: 14 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 1 → 2 → 9 → 3. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 33% long-term, 50% new
■ 33% conviction (2yr+)
■ 17% medium
■ 50% new
Of the 6 current holders: 2 (33%) held >2 years, 1 held 1–2 years, and 3 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~3 new funds/quarter
7 → 1 → 2 → 9 → 3 new funds/Q
New funds entering each quarter: 1 → 2 → 9 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 17% veterans, 50% new entrants
■ 17% veterans
■ 33% 1-2yr
■ 50% new
Of 6 current holders: 1 (17%) held 2+ years, 2 held 1–2 years, 3 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
1 of 6 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in SVII. 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 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.