Based on 10 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added XB 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
10 hedge funds hold XB 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.
🚀
Fast accumulation — +100% more funds vs a year ago
fund count last 6Q
+5 new funds entered over the past year (+100% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 75% buying
6 buying2 selling
Last quarter: 6 funds were net buyers (3 opened a brand new position + 3 added to an existing one). Only 2 were sellers (2 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 1 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 30% long-term, 30% new
■ 30% conviction (2yr+)
■ 40% medium
■ 30% new
Of the 10 current holders: 3 (30%) held >2 years, 4 held 1–2 years, and 3 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.
➡️
Steady discovery — ~3 new funds/quarter
1 → 2 → 2 → 1 → 3 new funds/Q
New funds entering each quarter: 2 → 2 → 1 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 30% veterans, 50% new entrants
■ 30% veterans
■ 20% 1-2yr
■ 50% new
Of 10 current holders: 3 (30%) held 2+ years, 2 held 1–2 years, 5 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
3 of 10 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.