Based on 78 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their TLSI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 94% of 3.0Y peak
94% of all-time peak
78 funds currently hold this stock — 94% of the 3.0-year high of 83 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +66% more funds vs a year ago
fund count last 6Q
+31 new funds entered over the past year (+66% 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 — 67% buying
58 buying29 selling
Last quarter: 58 funds were net buyers (14 opened a brand new position + 44 added to an existing one). Only 29 were sellers (10 trimmed + 19 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-19 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 16 → 33 → 14. 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 — 47% entered in last year
■ 17% conviction (2yr+)
■ 36% medium
■ 47% new
Only 13 funds (17%) 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.
💰
Value +20% but shares only +5% — price-driven
Last quarter: the total dollar value of institutional holdings rose +20%, but actual share count only changed +5%. 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.
📈
Growing discovery — still being found
22 → 10 → 16 → 33 → 14 new funds/Q
New funds entering each quarter: 10 → 16 → 33 → 14. A growing number of institutions are discovering TLSI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 71% of holders entered in last year
■ 19% veterans
■ 10% 1-2yr
■ 71% new
Of 78 current holders: 55 (71%) entered in the past year, only 15 (19%) 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.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
25 of 78 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.