Based on 124 hedge funds · latest filing: 2026 Q2 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
124 hedge funds hold HQH right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶
Steady growth — +13% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 4 quarters from the low — a sharp move.
🟢
More buyers than sellers — 63% buying
77 buying46 selling
Last quarter: 77 funds were net buyers (19 opened a brand new position + 58 added to an existing one). Only 46 were sellers (27 trimmed + 19 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 19 → 18 → 25 → 19. 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.
🔒
56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 23% medium
■ 22% new
69 out of 124 hedge funds have held HQH 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.
💰
Value +28% but shares only +4% — price-driven
Last quarter: the total dollar value of institutional holdings rose +28%, but actual share count only changed +4%. 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.
📈
Growing discovery — still being found
19 → 19 → 18 → 25 → 19 new funds/Q
New funds entering each quarter: 19 → 18 → 25 → 19. A growing number of institutions are discovering HQH each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 56% veterans vs 28% newcomers
■ 56% veterans
■ 15% 1-2yr
■ 28% new
Entry-cohort mix of 124 holders: 70 (56%) are 2+ year veterans, 19 entered 1–2 years ago, and 35 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
17 of 124 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in HQH. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.