Based on 213 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their SXC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 85% of 3.0Y peak
85% of all-time peak
213 funds currently hold this stock — 85% of the 3.0-year high of 250 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 13% fewer funds vs a year ago
fund count last 6Q
33 fewer hedge funds hold SXC compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 49% buying
117 buying124 selling
Last quarter: 124 funds reduced or exited vs 117 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.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new SXC position: 31 → 24 → 35 → 44. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 18% medium
■ 16% new
139 out of 213 hedge funds have held SXC 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.
📈
Growing discovery — still being found
41 → 31 → 24 → 35 → 44 new funds/Q
New funds entering each quarter: 31 → 24 → 35 → 44. A growing number of institutions are discovering SXC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 71% veterans vs 17% newcomers
■ 71% veterans
■ 12% 1-2yr
■ 17% new
Entry-cohort mix of 217 holders: 155 (71%) are 2+ year veterans, 25 entered 1–2 years ago, and 37 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
49 of 213 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in SXC. 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 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.