Based on 24 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TCRT 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.
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High ownership — 89% of 3.0Y peak
89% of all-time peak
24 funds currently hold this stock — 89% of the 3.0-year high of 27 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 11% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold TCRT compared to a year ago (-11% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 41% buying
7 buying10 selling
Last quarter: 10 funds reduced or exited vs 7 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 3 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 25% entered in last year
■ 4% conviction (2yr+)
■ 71% medium
■ 25% new
Only 1 funds (4%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Value +121% but shares only +67% — price-driven
Last quarter: the total dollar value of institutional holdings rose +121%, but actual share count only changed +67%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~5 new funds/quarter
5 → 2 → 3 → 3 → 5 new funds/Q
New funds entering each quarter: 2 → 3 → 3 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 4% veterans, 25% new entrants
■ 4% veterans
■ 71% 1-2yr
■ 25% new
Of 24 current holders: 1 (4%) held 2+ years, 17 held 1–2 years, 6 (25%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
6 of 24 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in TCRT. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.