Based on 9 hedge funds · latest filing: 2026 Q2 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🔻
Below peak — only 32% of 3.0Y high
32% of all-time peak
Only 9 funds hold SONM today versus a peak of 28 funds at 2020 Q4 — just 32% 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.
📉
Outflows — 47% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold SONM compared to a year ago (-47% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 43% buying
3 buying4 selling
Last quarter: 4 funds reduced or exited vs 3 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 2 → 6 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 33% long-term, 44% new
■ 33% conviction (2yr+)
■ 22% medium
■ 44% new
Of the 9 current holders: 3 (33%) held >2 years, 2 held 1–2 years, and 4 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.
💰
Price up while funds trimmed (+18% value, -7% shares)
Last quarter: total value of institutional SONM holdings rose +18% even though funds reduced share count by 7%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~1 new funds/quarter
10 → 6 → 2 → 6 → 1 new funds/Q
New funds entering each quarter: 6 → 2 → 6 → 1. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 44% veterans vs 44% newcomers
■ 44% veterans
■ 11% 1-2yr
■ 44% new
Entry-cohort mix of 9 holders: 4 (44%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (44%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
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 SONM. 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 1.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.