Based on 78 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 9 quarters in a row
For 9 consecutive quarters, more hedge funds added TAFI 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
78 hedge funds hold TAFI 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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Fast accumulation — +62% more funds vs a year ago
fund count last 6Q
+30 new funds entered over the past year (+62% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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More buyers than sellers — 66% buying
48 buying25 selling
Last quarter: 48 funds were net buyers (15 opened a brand new position + 33 added to an existing one). Only 25 were sellers (21 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 13 → 12 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 28% long-term, 41% new
■ 28% conviction (2yr+)
■ 31% medium
■ 41% new
Of the 78 current holders: 22 (28%) held >2 years, 24 held 1–2 years, and 32 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.
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Growing discovery — still being found
8 → 7 → 13 → 12 → 15 new funds/Q
New funds entering each quarter: 7 → 13 → 12 → 15. A growing number of institutions are discovering TAFI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 27% veterans, 49% new entrants
■ 27% veterans
■ 24% 1-2yr
■ 49% new
Of 78 current holders: 21 (27%) held 2+ years, 19 held 1–2 years, 38 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 84% AUM from top-100 funds
84% from top-100 AUM funds
11 of 78 holders are among the 100 largest funds by AUM, controlling 84% of total institutional value in TAFI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.