Based on 196 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SGHC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
196 hedge funds hold SGHC 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.
🚀
Fast accumulation — +28% more funds vs a year ago
fund count last 6Q
+43 new funds entered over the past year (+28% 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.
🟡
Slight buying edge — 53% buying
123 buying111 selling
Last quarter: 123 funds bought or added vs 111 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 — ~43 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 36 → 55 → 43 → 43. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 29% long-term, 35% new
■ 29% conviction (2yr+)
■ 36% medium
■ 35% new
Of the 196 current holders: 57 (29%) held >2 years, 70 held 1–2 years, and 69 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~43 new funds/quarter
42 → 36 → 55 → 43 → 43 new funds/Q
New funds entering each quarter: 36 → 55 → 43 → 43. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 35% veterans, 44% new entrants
■ 35% veterans
■ 21% 1-2yr
■ 44% new
Of 210 current holders: 73 (35%) held 2+ years, 45 held 1–2 years, 92 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
40 of 195 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.