Based on 38 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds reduced or closed their SKYE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 52% of 3.0Y high
52% of all-time peak
Only 38 funds hold SKYE today versus a peak of 73 funds at 2025 Q1 — just 52% 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 — 48% fewer funds vs a year ago
fund count last 6Q
35 fewer hedge funds hold SKYE compared to a year ago (-48% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 35% buying
13 buying24 selling
Last quarter: 24 funds sold vs only 13 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 15 → 14 → 14 → 4. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Mostly new holders — 34% entered in last year
■ 8% conviction (2yr+)
■ 58% medium
■ 34% new
Only 3 funds (8%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares +0%, value -18%
Last quarter: funds added +0% 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.
📊
Peak discovery — momentum slowing
13 → 15 → 14 → 14 → 4 new funds/Q
New funds entering each quarter: 15 → 14 → 14 → 4. SKYE is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 3% veterans, 28% new entrants
■ 3% veterans
■ 69% 1-2yr
■ 28% new
Of 39 current holders: 1 (3%) held 2+ years, 27 held 1–2 years, 11 (28%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 4% AUM from top-100
4% from top-100 AUM funds
9 of 37 holders rank in the top 100 by AUM, but together hold only 4% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.