Based on 41 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 SLNH 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 — 91% of 3.0Y peak
91% of all-time peak
41 funds currently hold this stock — 91% of the 3.0-year high of 45 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +128% more funds vs a year ago
fund count last 6Q
+23 new funds entered over the past year (+128% 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 — 52% buying
24 buying22 selling
Last quarter: 24 funds bought or added vs 22 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.
⚠️
Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 5 → 21 → 21 → 9. 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.
🔄
Mostly new holders — 63% entered in last year
■ 10% conviction (2yr+)
■ 27% medium
■ 63% new
Only 4 funds (10%) 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.
💎
Buying through price weakness — shares -17%, value -50%
Last quarter: funds added -17% more shares while total portfolio value only changed -50%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~9 new funds/quarter
5 → 5 → 21 → 21 → 9 new funds/Q
New funds entering each quarter: 5 → 21 → 21 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 66% of holders entered in last year
■ 15% veterans
■ 20% 1-2yr
■ 66% new
Of 41 current holders: 27 (66%) entered in the past year, only 6 (15%) 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 — 42% AUM from top-100 funds
42% from top-100 AUM funds
10 of 41 holders are among the 100 largest funds by AUM, controlling 42% 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.
5.7
out of 10
Moderate Exit Risk
Exit risk score 5.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.