Based on 59 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their KSCP positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (95% of max)
95% of all-time peak
59 hedge funds hold KSCP 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.
🚀
Fast accumulation — +74% more funds vs a year ago
fund count last 6Q
+25 new funds entered over the past year (+74% 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.
🟡
Slight buying edge — 55% buying
28 buying23 selling
Last quarter: 28 funds bought or added vs 23 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️
Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 17 → 10 → 26 → 14. 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.
🔄
Mostly new holders — 53% entered in last year
■ 19% conviction (2yr+)
■ 29% medium
■ 53% new
Only 11 funds (19%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares +6%, value -46%
Last quarter: funds added +6% more shares while total portfolio value only changed -46%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
10 → 17 → 10 → 26 → 14 new funds/Q
New funds entering each quarter: 17 → 10 → 26 → 14. A growing number of institutions are discovering KSCP each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 59% of holders entered in last year
■ 27% veterans
■ 14% 1-2yr
■ 59% new
Of 59 current holders: 35 (59%) entered in the past year, only 16 (27%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
14 of 59 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.0
out of 10
Moderate Exit Risk
Exit risk score 5.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.