Based on 167 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
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High ownership — 78% of 3.0Y peak
78% of all-time peak
167 funds currently hold this stock — 78% of the 3.0-year high of 214 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 16% fewer funds vs a year ago
fund count last 6Q
33 fewer hedge funds hold this stock compared to a year ago (-16% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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Slight buying edge — 52% buying
87 buying79 selling
Last quarter: 87 funds bought or added vs 79 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 43 → 19 → 30 → 23. 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.
🔒
71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 18% medium
■ 11% new
119 out of 167 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
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Steady discovery — ~23 new funds/quarter
33 → 43 → 19 → 30 → 23 new funds/Q
New funds entering each quarter: 43 → 19 → 30 → 23. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 78% of holders stayed 2+ years
■ 78% veterans
■ 9% 1-2yr
■ 13% new
Of 179 current holders: 139 (78%) 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.
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Smaller funds dominant — 17% top-100 AUM
17% from top-100 AUM funds
Only 29 of 167 current holders rank in the top 100 by AUM. The stock is held mostly by smaller and mid-sized funds — the largest institutional players haven't yet built significant positions.
Exit risk score 2.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.