Based on 107 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, 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.
📊
High ownership — 87% of 3.0Y peak
87% of all-time peak
107 funds currently hold this stock — 87% of the 3.0-year high of 123 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +19% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 43% buying
52 buying70 selling
Last quarter: 70 funds reduced or exited vs 52 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 — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 35 → 17 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 30% long-term, 27% new
■ 30% conviction (2yr+)
■ 43% medium
■ 27% new
Of the 107 current holders: 32 (30%) held >2 years, 46 held 1–2 years, and 29 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.
📊
Peak discovery — momentum slowing
18 → 19 → 35 → 17 → 15 new funds/Q
New funds entering each quarter: 19 → 35 → 17 → 15. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
📊
Mixed cohorts — 31% veterans, 39% new entrants
■ 31% veterans
■ 30% 1-2yr
■ 39% new
Of 107 current holders: 33 (31%) held 2+ years, 32 held 1–2 years, 42 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 10% top-100 AUM
10% from top-100 AUM funds
Only 11 of 107 current holders rank in the top 100 by AUM. The stock is held mostly by smaller and mid-sized funds — the largest institutional players haven't yet built significant positions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.