Based on 7 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added VVIAX 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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High ownership — 88% of 3.0Y peak
88% of all-time peak
7 funds currently hold this stock — 88% 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.
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Outflows — 12% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold VVIAX compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 43% buying
3 buying4 selling
Last quarter: 4 funds reduced or exited vs 3 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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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: 2 → 1 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 29% long-term, 29% new
■ 29% conviction (2yr+)
■ 43% medium
■ 29% new
Of the 7 current holders: 2 (29%) held >2 years, 3 held 1–2 years, and 2 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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Peak discovery — momentum slowing
3 → 2 → 1 → 0 → 2 new funds/Q
New funds entering each quarter: 2 → 1 → 0 → 2. VVIAX is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 29% veterans, 29% new entrants
■ 29% veterans
■ 43% 1-2yr
■ 29% new
Of 7 current holders: 2 (29%) held 2+ years, 3 held 1–2 years, 2 (29%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
0 of 7 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.