Based on 138 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 VTYX 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 (98% of max)
98% of all-time peak
138 hedge funds hold VTYX 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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Steady growth — +13% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 56% buying
82 buying65 selling
Last quarter: 82 funds bought or added vs 65 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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More new buyers each quarter (+31 vs last Q)
new funds entering per quarter
Funds opening a new VTYX position: 18 → 30 → 20 → 51. 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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43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 24% medium
■ 33% new
59 out of 138 hedge funds have held VTYX 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 +264% but shares only +25% — price-driven
Last quarter: the total dollar value of institutional holdings rose +264%, but actual share count only changed +25%. 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
26 → 18 → 30 → 20 → 51 new funds/Q
New funds entering each quarter: 18 → 30 → 20 → 51. A growing number of institutions are discovering VTYX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 54% of holders stayed 2+ years
■ 54% veterans
■ 16% 1-2yr
■ 30% new
Of 151 current holders: 82 (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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Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
22 of 138 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.