Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SVIX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 64% of 3.0Y high
64% of all-time peak
Only 18 funds hold SVIX today versus a peak of 28 funds at 2024 Q4 — just 64% 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 — 28% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold SVIX compared to a year ago (-28% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 42% buying
11 buying15 selling
Last quarter: 15 funds reduced or exited vs 11 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 2 → 4 → 10 → 3. 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.
🔒
56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 17% medium
■ 28% new
10 out of 18 hedge funds have held SVIX 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.
💰
Price up while funds trimmed (+15% value, -29% shares)
Last quarter: total value of institutional SVIX holdings rose +15% even though funds reduced share count by 29%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~3 new funds/quarter
9 → 2 → 4 → 10 → 3 new funds/Q
New funds entering each quarter: 2 → 4 → 10 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 64% veterans vs 32% newcomers
■ 64% veterans
■ 5% 1-2yr
■ 32% new
Entry-cohort mix of 22 holders: 14 (64%) are 2+ year veterans, 1 entered 1–2 years ago, and 7 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
4 of 15 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in SVIX. 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 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.