Based on 383 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 XMMO 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 (100% of max)
100% of all-time peak
383 hedge funds hold XMMO 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.
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Steady growth — +12% more funds vs a year ago
fund count last 6Q
+42 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 66% buying
237 buying122 selling
Last quarter: 237 funds were net buyers (74 opened a brand new position + 163 added to an existing one). Only 122 were sellers (100 trimmed + 22 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+36 vs last Q)
new funds entering per quarter
Funds opening a new XMMO position: 44 → 57 → 38 → 74. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mixed — 39% long-term, 26% new
■ 39% conviction (2yr+)
■ 35% medium
■ 26% new
Of the 383 current holders: 148 (39%) held >2 years, 134 held 1–2 years, and 101 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.
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Growing discovery — still being found
117 → 44 → 57 → 38 → 74 new funds/Q
New funds entering each quarter: 44 → 57 → 38 → 74. A growing number of institutions are discovering XMMO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 41% of holders stayed 2+ years
■ 41% veterans
■ 17% 1-2yr
■ 43% new
Of 383 current holders: 156 (41%) 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.
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Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
19 of 383 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in XMMO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.