Based on 327 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 UI 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 — 94% of 3.0Y peak
94% of all-time peak
327 funds currently hold this stock — 94% of the 3.0-year high of 347 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +34% more funds vs a year ago
fund count last 6Q
+83 new funds entered over the past year (+34% 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 sellers than buyers — 46% buying
157 buying183 selling
Last quarter: 183 funds reduced or exited vs 157 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 (-36 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 67 → 61 → 89 → 53. 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.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 27% medium
■ 27% new
153 out of 327 hedge funds have held UI 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.
💎
Buying through price weakness — shares +43%, value -13%
Last quarter: funds added +43% more shares while total portfolio value only changed -13%. 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
69 → 67 → 61 → 89 → 53 new funds/Q
New funds entering each quarter: 67 → 61 → 89 → 53. A growing number of institutions are discovering UI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 54% of holders stayed 2+ years
■ 54% veterans
■ 11% 1-2yr
■ 35% new
Of 327 current holders: 178 (54%) 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 — 39% AUM from major funds
39% from top-100 AUM funds
36 of 327 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.