Based on 31 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TELO 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 — 74% of 2.5Y peak
74% of all-time peak
31 funds currently hold this stock — 74% of the 2.5-year high of 42 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 26% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold TELO compared to a year ago (-26% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 68% buying
17 buying8 selling
Last quarter: 17 funds were net buyers (11 opened a brand new position + 6 added to an existing one). Only 8 were sellers (3 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new TELO position: 6 → 9 → 4 → 11. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mostly new holders — 35% entered in last year
■ 19% conviction (2yr+)
■ 45% medium
■ 35% new
Only 6 funds (19%) 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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Steady discovery — ~11 new funds/quarter
16 → 6 → 9 → 4 → 11 new funds/Q
New funds entering each quarter: 6 → 9 → 4 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 6% veterans, 48% new entrants
■ 6% veterans
■ 45% 1-2yr
■ 48% new
Of 31 current holders: 2 (6%) held 2+ years, 14 held 1–2 years, 15 (48%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
13 of 31 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.