Based on 53 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added THM 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
53 hedge funds hold THM 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 — +43% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+43% 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 — 59% buying
26 buying18 selling
Last quarter: 26 funds bought or added vs 18 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.
📈
More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new THM position: 5 → 9 → 9 → 16. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 34% long-term, 42% new
■ 34% conviction (2yr+)
■ 25% medium
■ 42% new
Of the 53 current holders: 18 (34%) held >2 years, 13 held 1–2 years, and 22 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.
💰
Value +43% but shares only +26% — price-driven
Last quarter: the total dollar value of institutional holdings rose +43%, but actual share count only changed +26%. 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.
🚀
Acceleration phase — new buyers rushing in
7 → 5 → 9 → 9 → 16 new funds/Q
New funds entering each quarter: 5 → 9 → 9 → 16. 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 — 47% of holders stayed 2+ years
■ 47% veterans
■ 13% 1-2yr
■ 40% new
Of 53 current holders: 25 (47%) 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.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
8 of 53 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.