Based on 169 hedge funds · latest filing: 2026 Q1 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊
High ownership — 93% of 3.0Y peak
93% of all-time peak
169 funds currently hold this stock — 93% of the 3.0-year high of 181 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 7% fewer funds vs a year ago
fund count last 6Q
12 fewer hedge funds hold SBGI compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 49% buying
86 buying91 selling
Last quarter: 91 funds reduced or exited vs 86 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~35 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 23 → 30 → 32 → 35. 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+)
■ 15% medium
■ 18% new
113 out of 169 hedge funds have held SBGI 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.
📈
Growing discovery — still being found
27 → 23 → 30 → 32 → 35 new funds/Q
New funds entering each quarter: 23 → 30 → 32 → 35. A growing number of institutions are discovering SBGI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 74% veterans vs 18% newcomers
■ 74% veterans
■ 8% 1-2yr
■ 18% new
Entry-cohort mix of 177 holders: 131 (74%) are 2+ year veterans, 15 entered 1–2 years ago, and 31 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
40 of 168 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.