Based on 131 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their TIPT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
131 hedge funds hold TIPT 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.
📶
Steady growth — +8% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 56% buying
84 buying65 selling
Last quarter: 84 funds bought or added vs 65 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.
➡️
Steady new buyers — ~20 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 25 → 21 → 24 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 21% medium
■ 22% new
75 out of 131 hedge funds have held TIPT for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️
Steady discovery — ~20 new funds/quarter
15 → 25 → 21 → 24 → 20 new funds/Q
New funds entering each quarter: 25 → 21 → 24 → 20. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 63% of holders stayed 2+ years
■ 63% veterans
■ 12% 1-2yr
■ 25% new
Of 138 current holders: 87 (63%) 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.
🏆
Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
29 of 131 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in TIPT. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.