Based on 80 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their UAPR 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 — 89% of 3.0Y peak
89% of all-time peak
80 funds currently hold this stock — 89% of the 3.0-year high of 90 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +16% more funds vs a year ago
fund count last 6Q
+11 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 41% buying
28 buying41 selling
Last quarter: 41 funds reduced or exited vs 28 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.
➡️
Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 27 → 10 → 8 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 40% medium
■ 14% new
37 out of 80 hedge funds have held UAPR 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.
⚠️
Saturation — most institutions already know this story
7 → 27 → 10 → 8 → 8 new funds/Q
New funds entering each quarter: 27 → 10 → 8 → 8. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Veteran-anchored — 51% veterans vs 21% newcomers
■ 51% veterans
■ 28% 1-2yr
■ 21% new
Entry-cohort mix of 80 holders: 41 (51%) are 2+ year veterans, 22 entered 1–2 years ago, and 17 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
6 of 79 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.