Based on 500 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added VONV 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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At the ownership peak (100% of max)
100% of all-time peak
500 hedge funds hold VONV 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.
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Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+87 new funds entered over the past year (+21% 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.
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More buyers than sellers — 64% buying
286 buying159 selling
Last quarter: 286 funds were net buyers (82 opened a brand new position + 204 added to an existing one). Only 159 were sellers (118 trimmed + 41 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+33 vs last Q)
new funds entering per quarter
Funds opening a new VONV position: 60 → 60 → 49 → 82. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 25% medium
■ 23% new
260 out of 500 hedge funds have held VONV 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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Steady discovery — ~82 new funds/quarter
58 → 60 → 60 → 49 → 82 new funds/Q
New funds entering each quarter: 60 → 60 → 49 → 82. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 54% of holders stayed 2+ years
■ 54% veterans
■ 15% 1-2yr
■ 31% new
Of 500 current holders: 269 (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.
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Elite ownership — 55% AUM from top-100 funds
55% from top-100 AUM funds
27 of 500 holders are among the 100 largest funds by AUM, controlling 55% of total institutional value in VONV. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.