Based on 101 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SLNH than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
101 hedge funds hold SLNH 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 — +432% more funds vs a year ago
fund count last 6Q
+82 new funds entered over the past year (+432% 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.
🟢
More buyers than sellers — 87% buying
89 buying13 selling
Last quarter: 89 funds were net buyers (69 opened a brand new position + 20 added to an existing one). Only 13 were sellers (4 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+60 vs last Q)
new funds entering per quarter
Funds opening a new SLNH position: 21 → 21 → 9 → 69. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 78% entered in last year
■ 6% conviction (2yr+)
■ 16% medium
■ 78% new
Only 6 funds (6%) 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.
💰
Value +831% but shares only +335% — price-driven
Last quarter: the total dollar value of institutional holdings rose +831%, but actual share count only changed +335%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀
Acceleration phase — new buyers rushing in
5 → 21 → 21 → 9 → 69 new funds/Q
New funds entering each quarter: 21 → 21 → 9 → 69. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🌱
Early stage — 79% of holders entered in last year
■ 8% veterans
■ 13% 1-2yr
■ 79% new
Of 101 current holders: 80 (79%) entered in the past year, only 8 (8%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆
Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
28 of 101 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in SLNH. 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 7.0/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.