Based on 9 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SNPG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 69% of 3.0Y high
69% of all-time peak
Only 9 funds hold SNPG today versus a peak of 13 funds at 2025 Q3 — just 69% 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 — 18% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold SNPG compared to a year ago (-18% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 38% buying
3 buying5 selling
Last quarter: 5 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 0 → 3 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 33% entered in last year
■ 11% conviction (2yr+)
■ 56% medium
■ 33% new
Only 1 funds (11%) 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.
➡️
Steady discovery — ~2 new funds/quarter
3 → 4 → 0 → 3 → 2 new funds/Q
New funds entering each quarter: 4 → 0 → 3 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 22% veterans, 44% new entrants
■ 22% veterans
■ 33% 1-2yr
■ 44% new
Of 9 current holders: 2 (22%) held 2+ years, 3 held 1–2 years, 4 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
4 of 9 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in SNPG. 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 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.