Based on 118 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 ONIT 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
118 hedge funds hold ONIT 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 — +44% more funds vs a year ago
fund count last 6Q
+36 new funds entered over the past year (+44% 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.
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More buyers than sellers — 60% buying
64 buying43 selling
Last quarter: 64 funds were net buyers (23 opened a brand new position + 41 added to an existing one). Only 43 were sellers (36 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new ONIT position: 13 → 19 → 14 → 23. 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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46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 28% medium
■ 26% new
54 out of 118 hedge funds have held ONIT 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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Growing discovery — still being found
7 → 13 → 19 → 14 → 23 new funds/Q
New funds entering each quarter: 13 → 19 → 14 → 23. A growing number of institutions are discovering ONIT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 57% veterans vs 30% newcomers
■ 57% veterans
■ 13% 1-2yr
■ 30% new
Entry-cohort mix of 123 holders: 70 (57%) are 2+ year veterans, 16 entered 1–2 years ago, and 37 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 43% AUM from top-100 funds
43% from top-100 AUM funds
36 of 118 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in ONIT. 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.