Based on 185 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added TDUP 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
185 hedge funds hold TDUP 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.
🚀
Fast accumulation — +101% more funds vs a year ago
fund count last 6Q
+93 new funds entered over the past year (+101% 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.
🟢
More buyers than sellers — 62% buying
119 buying73 selling
Last quarter: 119 funds were net buyers (41 opened a brand new position + 78 added to an existing one). Only 73 were sellers (50 trimmed + 23 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~41 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 27 → 54 → 44 → 41. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 41% new
■ 38% conviction (2yr+)
■ 21% medium
■ 41% new
Of the 185 current holders: 70 (38%) held >2 years, 39 held 1–2 years, and 76 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.
💎
Buying through price weakness — shares +6%, value -28%
Last quarter: funds added +6% more shares while total portfolio value only changed -28%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~41 new funds/quarter
17 → 27 → 54 → 44 → 41 new funds/Q
New funds entering each quarter: 27 → 54 → 44 → 41. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 51% of holders stayed 2+ years
■ 51% veterans
■ 8% 1-2yr
■ 41% new
Of 191 current holders: 97 (51%) 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.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
29 of 185 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.9
out of 10
Moderate Exit Risk
Exit risk score 4.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.