Based on 75 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their HIX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 83% of 3.0Y peak
83% of all-time peak
75 funds currently hold this stock — 83% of the 3.0-year high of 90 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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Outflows — 9% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold HIX compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 49% buying
36 buying37 selling
Last quarter: 37 funds reduced or exited vs 36 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 23 → 15 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 24% medium
■ 17% new
44 out of 75 hedge funds have held HIX 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.
➡️
Steady discovery — ~11 new funds/quarter
16 → 7 → 23 → 15 → 11 new funds/Q
New funds entering each quarter: 7 → 23 → 15 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 61% veterans vs 25% newcomers
■ 61% veterans
■ 13% 1-2yr
■ 25% new
Entry-cohort mix of 75 holders: 46 (61%) are 2+ year veterans, 10 entered 1–2 years ago, and 19 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 61% AUM from top-100 funds
61% from top-100 AUM funds
10 of 75 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in HIX. 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 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.