Based on 325 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 SUPN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (99% of max)
99% of all-time peak
325 hedge funds hold SUPN 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.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+41 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 50% buying
161 buying162 selling
Last quarter: 161 funds bought or added vs 162 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 (-18 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 42 → 60 → 62 → 44. 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.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 21% medium
■ 22% new
187 out of 325 hedge funds have held SUPN 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.
➡️
Steady discovery — ~44 new funds/quarter
36 → 42 → 60 → 62 → 44 new funds/Q
New funds entering each quarter: 42 → 60 → 62 → 44. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 63% veterans vs 27% newcomers
■ 63% veterans
■ 10% 1-2yr
■ 27% new
Entry-cohort mix of 330 holders: 209 (63%) are 2+ year veterans, 33 entered 1–2 years ago, and 88 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
54 of 323 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.