Based on 20 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SPCX 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.
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At the ownership peak (100% of max)
100% of all-time peak
20 hedge funds hold SPCX 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.
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Fast accumulation — +233% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+233% 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. The peak was reached in just 3 quarters from the low — a sharp move.
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More buyers than sellers — 94% buying
17 buying1 selling
Last quarter: 17 funds were net buyers (16 opened a brand new position + 1 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+15 vs last Q)
new funds entering per quarter
Funds opening a new SPCX position: 0 → 1 → 1 → 16. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mostly new holders — 80% entered in last year
■ 15% conviction (2yr+)
■ 5% medium
■ 80% new
Only 3 funds (15%) 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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Value +5867% but shares only +1027% — price-driven
Last quarter: the total dollar value of institutional holdings rose +5867%, but actual share count only changed +1027%. 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.
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Acceleration phase — new buyers rushing in
2 → 0 → 1 → 1 → 16 new funds/Q
New funds entering each quarter: 0 → 1 → 1 → 16. 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.
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Early stage — 81% of holders entered in last year
■ 19% veterans
■ 0% 1-2yr
■ 81% new
Of 21 current holders: 17 (81%) entered in the past year, only 4 (19%) 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.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
1 of 19 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
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.