Based on 132 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added UITB 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
132 hedge funds hold UITB 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.
📶
Steady growth — +20% more funds vs a year ago
fund count last 6Q
+22 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 75% buying
98 buying33 selling
Last quarter: 98 funds were net buyers (22 opened a brand new position + 76 added to an existing one). Only 33 were sellers (25 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new UITB position: 13 → 13 → 15 → 22. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 32% long-term, 27% new
■ 32% conviction (2yr+)
■ 42% medium
■ 27% new
Of the 132 current holders: 42 (32%) held >2 years, 55 held 1–2 years, and 35 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.
📈
Growing discovery — still being found
20 → 13 → 13 → 15 → 22 new funds/Q
New funds entering each quarter: 13 → 13 → 15 → 22. A growing number of institutions are discovering UITB each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 30% veterans, 38% new entrants
■ 30% veterans
■ 32% 1-2yr
■ 38% new
Of 132 current holders: 40 (30%) held 2+ years, 42 held 1–2 years, 50 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 59% AUM from top-100 funds
59% from top-100 AUM funds
14 of 132 holders are among the 100 largest funds by AUM, controlling 59% of total institutional value in UITB. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
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.