Based on 123 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added HQH 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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At the ownership peak (100% of max)
100% of all-time peak
123 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.
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Fast accumulation — +24% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+24% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks. The peak was reached in just 4 quarters from the low — a sharp move.
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More buyers than sellers — 63% buying
75 buying44 selling
Last quarter: 75 funds were net buyers (25 opened a brand new position + 50 added to an existing one). Only 44 were sellers (26 trimmed + 18 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new HQH position: 19 → 19 → 17 → 25. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 24% medium
■ 21% new
68 out of 123 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.
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Buying through price weakness — shares +0%, value -17%
Last quarter: funds added +0% more shares while total portfolio value only changed -17%. 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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Growing discovery — still being found
13 → 19 → 19 → 17 → 25 new funds/Q
New funds entering each quarter: 19 → 19 → 17 → 25. A growing number of institutions are discovering HQH each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 15% 1-2yr
■ 28% new
Of 123 current holders: 71 (58%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 60% AUM from top-100 funds
60% from top-100 AUM funds
18 of 123 holders are among the 100 largest funds by AUM, controlling 60% 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.