Based on 114 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their TTGT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 87% of 3.0Y peak
87% of all-time peak
114 funds currently hold this stock — 87% of the 3.0-year high of 131 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding TTGT is almost the same as a year ago (+2 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 42% buying
62 buying86 selling
Last quarter: 86 funds reduced or exited vs 62 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-19 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 29 → 23 → 40 → 21. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 37% entered in last year
■ 4% conviction (2yr+)
■ 59% medium
■ 37% new
Only 5 funds (4%) 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.
📈
Growing discovery — still being found
112 → 29 → 23 → 40 → 21 new funds/Q
New funds entering each quarter: 29 → 23 → 40 → 21. A growing number of institutions are discovering TTGT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 94% of holders entered in last year
■ 6% veterans
■ 0% 1-2yr
■ 94% new
Of 114 current holders: 107 (94%) entered in the past year, only 7 (6%) 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.
✅
Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
26 of 114 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.