Based on 46 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added USDU 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.
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High ownership — 70% of 3.0Y peak
70% of all-time peak
46 funds currently hold this stock — 70% of the 3.0-year high of 66 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 30% fewer funds vs a year ago
fund count last 6Q
20 fewer hedge funds hold USDU compared to a year ago (-30% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 64% buying
32 buying18 selling
Last quarter: 32 funds were net buyers (11 opened a brand new position + 21 added to an existing one). Only 18 were sellers (10 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 13 → 11 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 37% medium
■ 20% new
20 out of 46 hedge funds have held USDU 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.
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Peak discovery — momentum slowing
31 → 14 → 13 → 11 → 11 new funds/Q
New funds entering each quarter: 14 → 13 → 11 → 11. USDU is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Deep conviction — 60% of holders stayed 2+ years
■ 60% veterans
■ 13% 1-2yr
■ 28% new
Of 47 current holders: 28 (60%) 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.
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Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
10 of 46 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.