Based on 188 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added TSHA 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
188 hedge funds hold TSHA 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 — +54% more funds vs a year ago
fund count last 6Q
+66 new funds entered over the past year (+54% 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 — 65% buying
127 buying68 selling
Last quarter: 127 funds were net buyers (62 opened a brand new position + 65 added to an existing one). Only 68 were sellers (46 trimmed + 22 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+35 vs last Q)
new funds entering per quarter
Funds opening a new TSHA position: 25 → 43 → 27 → 62. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 34% long-term, 37% new
■ 34% conviction (2yr+)
■ 30% medium
■ 37% new
Of the 188 current holders: 63 (34%) held >2 years, 56 held 1–2 years, and 69 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares +2%, value -89%
Last quarter: funds added +2% more shares while total portfolio value only changed -89%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
26 → 25 → 43 → 27 → 62 new funds/Q
New funds entering each quarter: 25 → 43 → 27 → 62. A growing number of institutions are discovering TSHA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 46% of holders stayed 2+ years
■ 46% veterans
■ 14% 1-2yr
■ 39% new
Of 195 current holders: 90 (46%) 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 — 34% AUM from major funds
34% from top-100 AUM funds
34 of 188 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.