Based on 214 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added OIS 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
214 hedge funds hold OIS 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 — +36% more funds vs a year ago
fund count last 6Q
+57 new funds entered over the past year (+36% 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.
🟢
More buyers than sellers — 62% buying
130 buying81 selling
Last quarter: 130 funds were net buyers (56 opened a brand new position + 74 added to an existing one). Only 81 were sellers (59 trimmed + 22 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+20 vs last Q)
new funds entering per quarter
Funds opening a new OIS position: 27 → 26 → 36 → 56. 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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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 16% medium
■ 23% new
130 out of 214 hedge funds have held OIS 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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Value +69% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +69%, but actual share count only changed +3%. 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.
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Acceleration phase — new buyers rushing in
26 → 27 → 26 → 36 → 56 new funds/Q
New funds entering each quarter: 27 → 26 → 36 → 56. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Veteran-anchored — 68% veterans vs 21% newcomers
■ 68% veterans
■ 11% 1-2yr
■ 21% new
Entry-cohort mix of 216 holders: 147 (68%) are 2+ year veterans, 23 entered 1–2 years ago, and 46 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
47 of 212 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in OIS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.