Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TOK 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.
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Below peak — only 64% of 3.0Y high
64% of all-time peak
Only 21 funds hold TOK today versus a peak of 33 funds at 2024 Q3 — just 64% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold TOK compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 72% buying
13 buying5 selling
Last quarter: 13 funds were net buyers (7 opened a brand new position + 6 added to an existing one). Only 5 were sellers (4 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new TOK position: 2 → 3 → 0 → 7. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 19% medium
■ 19% new
13 out of 21 hedge funds have held TOK 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.
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Steady discovery — ~7 new funds/quarter
2 → 2 → 3 → 0 → 7 new funds/Q
New funds entering each quarter: 2 → 3 → 0 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 62% veterans vs 19% newcomers
■ 62% veterans
■ 19% 1-2yr
■ 19% new
Entry-cohort mix of 21 holders: 13 (62%) are 2+ year veterans, 4 entered 1–2 years ago, and 4 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 16% AUM from top-100
16% from top-100 AUM funds
7 of 21 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.