Based on 199 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their SCSC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 93% of 3.0Y peak
93% of all-time peak
199 funds currently hold this stock — 93% of the 3.0-year high of 215 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
9 fewer hedge funds hold SCSC compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
97 buying110 selling
Last quarter: 110 funds reduced or exited vs 97 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.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new SCSC position: 24 → 30 → 23 → 29. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 19% medium
■ 17% new
129 out of 199 hedge funds have held SCSC 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.
➡️
Steady discovery — ~29 new funds/quarter
32 → 24 → 30 → 23 → 29 new funds/Q
New funds entering each quarter: 24 → 30 → 23 → 29. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 69% veterans vs 18% newcomers
■ 69% veterans
■ 12% 1-2yr
■ 18% new
Entry-cohort mix of 200 holders: 138 (69%) are 2+ year veterans, 25 entered 1–2 years ago, and 37 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
47 of 199 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.