Based on 436 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added TEM 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
436 hedge funds hold TEM 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 — +187% more funds vs a year ago
fund count last 6Q
+284 new funds entered over the past year (+187% 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.
🟡
Slight buying edge — 55% buying
273 buying222 selling
Last quarter: 273 funds bought or added vs 222 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.
⚠️
Fewer new buyers each quarter (-23 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 159 → 127 → 122 → 99. 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.
🔄
Mostly new holders — 50% entered in last year
■ 6% conviction (2yr+)
■ 45% medium
■ 50% new
Only 25 funds (6%) 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.
💎
Buying through price weakness — shares +1%, value -54%
Last quarter: funds added +1% more shares while total portfolio value only changed -54%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
78 → 159 → 127 → 122 → 99 new funds/Q
New funds entering each quarter: 159 → 127 → 122 → 99. TEM is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 77% of holders entered in last year
■ 3% veterans
■ 20% 1-2yr
■ 77% new
Of 487 current holders: 373 (77%) entered in the past year, only 15 (3%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆
Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
41 of 436 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in TEM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
5.5
out of 10
Moderate Exit Risk
Exit risk score 5.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.