Based on 39 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TPZ 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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High ownership — 80% of 1.2Y peak
80% of all-time peak
39 funds currently hold this stock — 80% of the 1.2-year high of 49 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 20% fewer funds vs a year ago
fund count last 5Q
10 fewer hedge funds hold TPZ compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 31% buying
11 buying25 selling
Last quarter: 25 funds sold vs only 11 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 5 → 5 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 23% entered in last year
■ 0% conviction (2yr+)
■ 77% medium
■ 23% new
Only 0 funds (0%) 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.
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Steady discovery — ~7 new funds/quarter
5 → 5 → 5 → 7 new funds/Q
New funds entering each quarter: 5 → 5 → 5 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 100% of holders entered in last year
■ 0% veterans
■ 0% 1-2yr
■ 100% new
Of 39 current holders: 39 (100%) entered in the past year, only 0 (0%) 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.
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Smaller funds dominant — 11% AUM from top-100
11% from top-100 AUM funds
6 of 39 holders rank in the top 100 by AUM, but together hold only 11% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.