Based on 5 hedge funds · latest filing: 2021 Q3 · updated quarterly
📉
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.
🔻
Below peak — only 2% of 3.0Y high
2% of all-time peak
Only 5 funds hold this stock today versus a peak of 212 funds at 2019 Q4 — just 2% 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.
📉
Outflows — 97% fewer funds vs a year ago
fund count last 6Q
178 fewer hedge funds hold this stock compared to a year ago (-97% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 1% buying
1 buying198 selling
Last quarter: 198 funds sold vs only 1 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-45 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 20 → 28 → 45 → 0. 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.
🔒
80% of holders stayed for 2+ years
■ 80% conviction (2yr+)
■ 0% medium
■ 20% new
4 out of 5 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
➡️
Steady discovery — ~0 new funds/quarter
19 → 20 → 28 → 45 → 0 new funds/Q
New funds entering each quarter: 20 → 28 → 45 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 80% of holders stayed 2+ years
■ 80% veterans
■ 0% 1-2yr
■ 20% new
Of 5 current holders: 4 (80%) 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.
✅
Strong quality — 20% from major AUM funds
20% from top-100 AUM funds
1 of 5 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.