Based on 601 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their HDB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 92% of 3.0Y peak
92% of all-time peak
601 funds currently hold this stock — 92% of the 3.0-year high of 651 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding HDB is almost the same as a year ago (-11 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🔴
Heavy selling pressure — only 39% buying
260 buying401 selling
Last quarter: 401 funds sold vs only 260 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 86 → 76 → 87 → 77. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 19% medium
■ 16% new
391 out of 601 hedge funds have held HDB 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 -6%, value -43%
Last quarter: funds added -6% more shares while total portfolio value only changed -43%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~77 new funds/quarter
67 → 86 → 76 → 87 → 77 new funds/Q
New funds entering each quarter: 86 → 76 → 87 → 77. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 68% veterans vs 18% newcomers
■ 68% veterans
■ 14% 1-2yr
■ 18% new
Entry-cohort mix of 616 holders: 420 (68%) are 2+ year veterans, 84 entered 1–2 years ago, and 112 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
60 of 601 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in HDB. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.