Based on 28 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added XFEB 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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At the ownership peak (97% of max)
97% of all-time peak
28 hedge funds hold XFEB right now — the highest count in 2.2 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.
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Fast accumulation — +27% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+27% 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.
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Heavy selling pressure — only 33% buying
8 buying16 selling
Last quarter: 16 funds sold vs only 8 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 2 → 2 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 21% entered in last year
■ 0% conviction (2yr+)
■ 79% medium
■ 21% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Peak discovery — momentum slowing
2 → 8 → 2 → 2 → 6 new funds/Q
New funds entering each quarter: 8 → 2 → 2 → 6. XFEB 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 — 4% veterans, 25% new entrants
■ 4% veterans
■ 71% 1-2yr
■ 25% new
Of 28 current holders: 1 (4%) held 2+ years, 20 held 1–2 years, 7 (25%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 12% AUM from top-100
12% from top-100 AUM funds
4 of 28 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.