Based on 10 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ONFO 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
10 hedge funds hold ONFO 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 — +43% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+43% 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 — 73% buying
8 buying3 selling
Last quarter: 8 funds were net buyers (7 opened a brand new position + 1 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new ONFO position: 2 → 3 → 1 → 7. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 70% entered in last year
■ 20% conviction (2yr+)
■ 10% medium
■ 70% new
Only 2 funds (20%) 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 +55%, value -22%
Last quarter: funds added +55% more shares while total portfolio value only changed -22%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~7 new funds/quarter
2 → 2 → 3 → 1 → 7 new funds/Q
New funds entering each quarter: 2 → 3 → 1 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 70% of holders entered in last year
■ 20% veterans
■ 10% 1-2yr
■ 70% new
Of 10 current holders: 7 (70%) entered in the past year, only 2 (20%) 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 — 33% AUM from major funds
33% from top-100 AUM funds
5 of 10 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.