Based on 26 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their HTUS 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 — 84% of 3.0Y peak
84% of all-time peak
26 funds currently hold this stock — 84% of the 3.0-year high of 31 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +4% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 39% buying
12 buying19 selling
Last quarter: 19 funds sold vs only 12 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 10 → 5 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 35% new
■ 38% conviction (2yr+)
■ 27% medium
■ 35% new
Of the 26 current holders: 10 (38%) held >2 years, 7 held 1–2 years, and 9 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📊
Peak discovery — momentum slowing
7 → 7 → 10 → 5 → 6 new funds/Q
New funds entering each quarter: 7 → 10 → 5 → 6. HTUS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 38% veterans, 38% new entrants
■ 38% veterans
■ 23% 1-2yr
■ 38% new
Of 26 current holders: 10 (38%) held 2+ years, 6 held 1–2 years, 10 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
3 of 26 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in HTUS. 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.