Based on 404 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SSD 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
404 hedge funds hold SSD 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding SSD is almost the same as a year ago (+10 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 46% buying
190 buying220 selling
Last quarter: 220 funds reduced or exited vs 190 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.
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More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new SSD position: 56 → 57 → 55 → 65. 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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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 20% medium
■ 16% new
259 out of 404 hedge funds have held SSD for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Steady discovery — ~65 new funds/quarter
59 → 56 → 57 → 55 → 65 new funds/Q
New funds entering each quarter: 56 → 57 → 55 → 65. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 11% 1-2yr
■ 20% new
Of 408 current holders: 281 (69%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
44 of 404 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in SSD. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.