Based on 48 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 VRCA 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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Below peak — only 62% of 3.0Y high
62% of all-time peak
Only 48 funds hold VRCA today versus a peak of 78 funds at 2024 Q3 — just 62% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 35% fewer funds vs a year ago
fund count last 6Q
26 fewer hedge funds hold VRCA compared to a year ago (-35% 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 — 66% buying
27 buying14 selling
Last quarter: 27 funds were net buyers (22 opened a brand new position + 5 added to an existing one). Only 14 were sellers (9 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+15 vs last Q)
new funds entering per quarter
Funds opening a new VRCA position: 11 → 13 → 7 → 22. 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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46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 29% medium
■ 25% new
22 out of 48 hedge funds have held VRCA 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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Value +316% but shares only +116% — price-driven
Last quarter: the total dollar value of institutional holdings rose +316%, but actual share count only changed +116%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
15 → 11 → 13 → 7 → 22 new funds/Q
New funds entering each quarter: 11 → 13 → 7 → 22. A growing number of institutions are discovering VRCA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 62% of holders stayed 2+ years
■ 62% veterans
■ 8% 1-2yr
■ 29% new
Of 48 current holders: 30 (62%) 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 — 6% AUM from top-100
6% from top-100 AUM funds
12 of 48 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.