Based on 22 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 ANY 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 — 92% of 2.8Y peak
92% of all-time peak
22 funds currently hold this stock — 92% of the 2.8-year high of 24 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 — 8% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold ANY compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 65% buying
15 buying8 selling
Last quarter: 15 funds were net buyers (7 opened a brand new position + 8 added to an existing one). Only 8 were sellers (5 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 11 → 3 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Buying through price weakness — shares +246%, value +40%
Last quarter: funds added +246% more shares while total portfolio value only changed +40%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
8 → 2 → 11 → 3 → 7 new funds/Q
New funds entering each quarter: 2 → 11 → 3 → 7. ANY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.