Based on 46 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added XDSQ 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
46 hedge funds hold XDSQ 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.
📶
Steady growth — +18% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+18% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 44% buying
21 buying27 selling
Last quarter: 27 funds reduced or exited vs 21 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.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 4 → 7 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 30% medium
■ 20% new
23 out of 46 hedge funds have held XDSQ 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.
➡️
Steady discovery — ~7 new funds/quarter
7 → 7 → 4 → 7 → 7 new funds/Q
New funds entering each quarter: 7 → 4 → 7 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 46% veterans vs 33% newcomers
■ 46% veterans
■ 22% 1-2yr
■ 33% new
Entry-cohort mix of 46 holders: 21 (46%) are 2+ year veterans, 10 entered 1–2 years ago, and 15 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
2 of 46 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.