Based on 41 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 XZO 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
41 hedge funds hold XZO 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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Fast accumulation — +4000% more funds vs a year ago
fund count last 6Q
+40 new funds entered over the past year (+4000% 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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More buyers than sellers — 100% buying
40 buying0 selling
Last quarter: 40 funds were net buyers (40 opened a brand new position + 0 added to an existing one). Only 0 were sellers (0 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+40 vs last Q)
new funds entering per quarter
Funds opening a new XZO position: 0 → 0 → 0 → 40. 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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Mostly new holders — 95% entered in last year
■ 2% conviction (2yr+)
■ 2% medium
■ 95% new
Only 1 funds (2%) 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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Steady discovery — ~40 new funds/quarter
0 → 0 → 0 → 0 → 40 new funds/Q
New funds entering each quarter: 0 → 0 → 0 → 40. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 95% of holders entered in last year
■ 5% veterans
■ 0% 1-2yr
■ 95% new
Of 41 current holders: 39 (95%) entered in the past year, only 2 (5%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
8 of 41 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 7.4/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.