Based on 254 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TNDM 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.
📊
High ownership — 80% of 3.0Y peak
80% of all-time peak
254 funds currently hold this stock — 80% of the 3.0-year high of 318 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 16% fewer funds vs a year ago
fund count last 6Q
47 fewer hedge funds hold TNDM compared to a year ago (-16% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 50% buying
135 buying136 selling
Last quarter: 135 funds bought or added vs 136 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 (+10 vs last Q)
new funds entering per quarter
Funds opening a new TNDM position: 37 → 38 → 43 → 53. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
69% of holders stayed for 2+ years
■ 69% conviction (2yr+)
■ 18% medium
■ 13% new
176 out of 254 hedge funds have held TNDM 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.
💰
Price up while funds trimmed (+81% value, -0% shares)
Last quarter: total value of institutional TNDM holdings rose +81% even though funds reduced share count by 0%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📈
Growing discovery — still being found
39 → 37 → 38 → 43 → 53 new funds/Q
New funds entering each quarter: 37 → 38 → 43 → 53. A growing number of institutions are discovering TNDM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 73% of holders stayed 2+ years
■ 73% veterans
■ 13% 1-2yr
■ 13% new
Of 267 current holders: 196 (73%) 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.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
40 of 254 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.