Based on 26 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their XOS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 90% of 3.0Y peak
90% of all-time peak
26 funds currently hold this stock — 90% of the 3.0-year high of 29 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +8% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 50% buying
11 buying11 selling
Last quarter: 11 funds bought or added vs 11 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 6 → 5 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 27% new
■ 38% conviction (2yr+)
■ 35% medium
■ 27% new
Of the 26 current holders: 10 (38%) held >2 years, 9 held 1–2 years, and 7 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.
💎
Buying through price weakness — shares -1%, value -34%
Last quarter: funds added -1% more shares while total portfolio value only changed -34%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
4 → 4 → 6 → 5 → 3 new funds/Q
New funds entering each quarter: 4 → 6 → 5 → 3. XOS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 4% veterans, 31% new entrants
■ 4% veterans
■ 65% 1-2yr
■ 31% new
Of 26 current holders: 1 (4%) held 2+ years, 17 held 1–2 years, 8 (31%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
9 of 26 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in XOS. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.