Based on 6 hedge funds · latest filing: 2026 Q2 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊
High ownership — 75% of 3.0Y peak
75% of all-time peak
6 funds currently hold this stock — 75% of the 3.0-year high of 8 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +20% more funds vs a year ago
fund count last 6Q
+1 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 — 67% buying
4 buying2 selling
Last quarter: 4 funds were net buyers (2 opened a brand new position + 2 added to an existing one). Only 2 were sellers (0 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 1 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 17% medium
■ 33% new
3 out of 6 hedge funds have held VPMAX 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.
💰
Price up while funds trimmed (+20% value, -10% shares)
Last quarter: total value of institutional VPMAX holdings rose +20% even though funds reduced share count by 10%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
0 → 2 → 1 → 0 → 2 new funds/Q
New funds entering each quarter: 2 → 1 → 0 → 2. VPMAX is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 33% veterans, 17% new entrants
■ 33% veterans
■ 50% 1-2yr
■ 17% new
Of 6 current holders: 2 (33%) held 2+ years, 3 held 1–2 years, 1 (17%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
0 of 6 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.