Based on 16 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ORANY 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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Below peak — only 8% of 3.0Y high
8% of all-time peak
Only 16 funds hold ORANY today versus a peak of 210 funds at 2024 Q2 — just 8% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 11% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold ORANY compared to a year ago (-11% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 56% buying
9 buying7 selling
Last quarter: 9 funds bought or added vs 7 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.
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Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 4 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 19% medium
■ 19% new
10 out of 16 hedge funds have held ORANY 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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Steady discovery — ~6 new funds/quarter
6 → 2 → 2 → 4 → 6 new funds/Q
New funds entering each quarter: 2 → 2 → 4 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 62% veterans vs 31% newcomers
■ 62% veterans
■ 6% 1-2yr
■ 31% new
Entry-cohort mix of 16 holders: 10 (62%) are 2+ year veterans, 1 entered 1–2 years ago, and 5 (31%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 7% AUM from top-100
7% from top-100 AUM funds
2 of 16 holders rank in the top 100 by AUM, but together hold only 7% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.