Based on 117 hedge funds · latest filing: 2018 Q3 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
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High ownership — 89% of 3.0Y peak
89% of all-time peak
117 funds currently hold this stock — 89% of the 3.0-year high of 132 funds (reached 2018 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold this stock compared to a year ago (-5% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More sellers than buyers — 41% buying
56 buying82 selling
Last quarter: 82 funds reduced or exited vs 56 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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Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 18 → 19 → 33 → 21. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Growing discovery — still being found
13 → 18 → 19 → 33 → 21 new funds/Q
New funds entering each quarter: 18 → 19 → 33 → 21. A growing number of institutions are discovering this stock each quarter. The idea is still spreading — there is room for more buyers to enter.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.