Based on 3 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added VSA 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 43% of 3.0Y high
43% of all-time peak
Only 3 funds hold VSA today versus a peak of 7 funds at 2023 Q3 — just 43% 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 — 25% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold VSA compared to a year ago (-25% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 50% buying
2 buying2 selling
Last quarter: 2 funds bought or added vs 2 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 33% long-term, 33% new
■ 33% conviction (2yr+)
■ 33% medium
■ 33% new
Of the 3 current holders: 1 (33%) held >2 years, 1 held 1–2 years, and 1 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.
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Value +3793% but shares only +470% — price-driven
Last quarter: the total dollar value of institutional holdings rose +3793%, but actual share count only changed +470%. 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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Saturation — most institutions already know this story
1 → 1 → 3 → 0 → 2 new funds/Q
New funds entering each quarter: 1 → 3 → 0 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 100% veterans vs 0% newcomers
■ 100% veterans
■ 0% 1-2yr
■ 0% new
Entry-cohort mix of 3 holders: 3 (100%) are 2+ year veterans, 0 entered 1–2 years ago, and 0 (0%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 100% AUM from top-100 funds
100% from top-100 AUM funds
3 of 3 holders are among the 100 largest funds by AUM, controlling 100% of total institutional value in VSA. 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 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.