Based on 73 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ZURA 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 — 87% of 3.0Y peak
87% of all-time peak
73 funds currently hold this stock — 87% of the 3.0-year high of 84 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold ZURA compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 57% buying
46 buying35 selling
Last quarter: 46 funds bought or added vs 35 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.
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Steady new buyers — ~22 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 19 → 20 → 22. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 29% long-term, 42% new
■ 29% conviction (2yr+)
■ 29% medium
■ 42% new
Of the 73 current holders: 21 (29%) held >2 years, 21 held 1–2 years, and 31 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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Value +33% but shares only +10% — price-driven
Last quarter: the total dollar value of institutional holdings rose +33%, but actual share count only changed +10%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
22 → 9 → 19 → 20 → 22 new funds/Q
New funds entering each quarter: 9 → 19 → 20 → 22. A growing number of institutions are discovering ZURA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 29% veterans, 47% new entrants
■ 29% veterans
■ 24% 1-2yr
■ 47% new
Of 79 current holders: 23 (29%) held 2+ years, 19 held 1–2 years, 37 (47%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 19% AUM from top-100
19% from top-100 AUM funds
15 of 73 holders rank in the top 100 by AUM, but together hold only 19% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.