Based on 224 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their ROCK positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 79% of 3.0Y peak
79% of all-time peak
224 funds currently hold this stock — 79% of the 3.0-year high of 284 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
41 fewer hedge funds hold ROCK compared to a year ago (-15% 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 — 50% buying
127 buying126 selling
Last quarter: 127 funds bought or added vs 126 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.
➡️
Steady new buyers — ~38 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 36 → 43 → 33 → 38. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 16% medium
■ 18% new
149 out of 224 hedge funds have held ROCK 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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Buying through price weakness — shares +3%, value -18%
Last quarter: funds added +3% more shares while total portfolio value only changed -18%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~38 new funds/quarter
37 → 36 → 43 → 33 → 38 new funds/Q
New funds entering each quarter: 36 → 43 → 33 → 38. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 71% veterans vs 19% newcomers
■ 71% veterans
■ 10% 1-2yr
■ 19% new
Entry-cohort mix of 224 holders: 159 (71%) are 2+ year veterans, 22 entered 1–2 years ago, and 43 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
44 of 224 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in ROCK. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.