Based on 255 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added this stock 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 trade.
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At the ownership peak (100% of max)
100% of all-time peak
255 hedge funds hold this stock 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 'crowded trade' — high ownership doesn't mean safe.
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Steady growth — +16% more funds vs a year ago
fund count last 6Q
+36 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 58% buying
147 buying108 selling
Last quarter: 147 funds bought or added vs 108 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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Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 51 → 39 → 42 → 32. 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.
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Mixed — 32% long-term, 27% new
■ 32% conviction (2yr+)
■ 41% medium
■ 27% new
Of the 255 current holders: 81 (32%) held >2 years, 104 held 1–2 years, and 70 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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Peak discovery — momentum slowing
37 → 51 → 39 → 42 → 32 new funds/Q
New funds entering each quarter: 51 → 39 → 42 → 32. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
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Mixed cohorts — 33% veterans, 39% new entrants
■ 33% veterans
■ 28% 1-2yr
■ 39% new
Of 255 current holders: 83 (33%) held 2+ years, 72 held 1–2 years, 100 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 5% top-100 AUM
5% from top-100 AUM funds
Only 12 of 255 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.