Based on 9 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ZTRE 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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High ownership — 82% of 2.5Y peak
82% of all-time peak
9 funds currently hold this stock — 82% of the 2.5-year high of 11 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Steady growth — +12% more funds vs a year ago
fund count last 6Q
+1 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.
🟢
More buyers than sellers — 70% buying
7 buying3 selling
Last quarter: 7 funds were net buyers (2 opened a brand new position + 5 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 33% medium
■ 22% new
4 out of 9 hedge funds have held ZTRE 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.
⚠️
Saturation — most institutions already know this story
0 → 2 → 3 → 0 → 2 new funds/Q
New funds entering each quarter: 2 → 3 → 0 → 2. 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.
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Veteran-anchored — 44% veterans vs 22% newcomers
■ 44% veterans
■ 33% 1-2yr
■ 22% new
Entry-cohort mix of 9 holders: 4 (44%) are 2+ year veterans, 3 entered 1–2 years ago, and 2 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
2 of 9 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.