Based on 226 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added TE 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
226 hedge funds hold TE 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 — +79% more funds vs a year ago
fund count last 6Q
+100 new funds entered over the past year (+79% 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 — 80% buying
175 buying45 selling
Last quarter: 175 funds were net buyers (115 opened a brand new position + 60 added to an existing one). Only 45 were sellers (29 trimmed + 16 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+96 vs last Q)
new funds entering per quarter
Funds opening a new TE position: 19 → 18 → 19 → 115. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 33% long-term, 43% new
■ 33% conviction (2yr+)
■ 23% medium
■ 43% new
Of the 226 current holders: 75 (33%) held >2 years, 53 held 1–2 years, and 98 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 +114%, value -93%
Last quarter: funds added +114% more shares while total portfolio value only changed -93%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
28 → 19 → 18 → 19 → 115 new funds/Q
New funds entering each quarter: 19 → 18 → 19 → 115. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 42% of holders stayed 2+ years
■ 42% veterans
■ 19% 1-2yr
■ 39% new
Of 238 current holders: 101 (42%) 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 — 23% AUM from major funds
23% from top-100 AUM funds
35 of 226 holders rank in the top 100 by AUM, accounting for 23% 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.