Based on 23 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their YRD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 68% of 3.0Y high
68% of all-time peak
Only 23 funds hold YRD today versus a peak of 34 funds at 2025 Q2 — just 68% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 28% fewer funds vs a year ago
fund count last 6Q
9 fewer hedge funds hold YRD compared to a year ago (-28% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 32% buying
10 buying21 selling
Last quarter: 21 funds sold vs only 10 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 7 → 5 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 26% medium
■ 9% new
15 out of 23 hedge funds have held YRD for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎
Buying through price weakness — shares -19%, value -64%
Last quarter: funds added -19% more shares while total portfolio value only changed -64%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
9 → 6 → 7 → 5 → 1 new funds/Q
New funds entering each quarter: 6 → 7 → 5 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 76% of holders stayed 2+ years
■ 76% veterans
■ 12% 1-2yr
■ 12% new
Of 25 current holders: 19 (76%) 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.
🏆
Elite ownership — 70% AUM from top-100 funds
70% from top-100 AUM funds
11 of 23 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in YRD. 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 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.