Based on 756 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TOST 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
756 hedge funds hold TOST 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 — +26% more funds vs a year ago
fund count last 6Q
+156 new funds entered over the past year (+26% 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 — 57% buying
437 buying323 selling
Last quarter: 437 funds bought or added vs 323 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 (+34 vs last Q)
new funds entering per quarter
Funds opening a new TOST position: 112 → 149 → 113 → 147. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
41% of holders stayed for 2+ years
■ 41% conviction (2yr+)
■ 31% medium
■ 27% new
313 out of 756 hedge funds have held TOST 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 — ~147 new funds/quarter
157 → 112 → 149 → 113 → 147 new funds/Q
New funds entering each quarter: 112 → 149 → 113 → 147. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 47% of holders stayed 2+ years
■ 47% veterans
■ 17% 1-2yr
■ 37% new
Of 793 current holders: 369 (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.
🏆
Elite ownership — 54% AUM from top-100 funds
54% from top-100 AUM funds
45 of 756 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in TOST. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.