Based on 180 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 TMFC 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 (95% of max)
95% of all-time peak
180 hedge funds hold TMFC 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.
🚀
Fast accumulation — +41% more funds vs a year ago
fund count last 6Q
+52 new funds entered over the past year (+41% 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.
🟡
Slight buying edge — 54% buying
89 buying77 selling
Last quarter: 89 funds bought or added vs 77 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 (-11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 30 → 36 → 35 → 24. 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.
📌
Mixed — 37% long-term, 31% new
■ 37% conviction (2yr+)
■ 33% medium
■ 31% new
Of the 180 current holders: 66 (37%) held >2 years, 59 held 1–2 years, and 55 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~24 new funds/quarter
24 → 30 → 36 → 35 → 24 new funds/Q
New funds entering each quarter: 30 → 36 → 35 → 24. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 42% veterans vs 42% newcomers
■ 42% veterans
■ 16% 1-2yr
■ 42% new
Entry-cohort mix of 180 holders: 75 (42%) are 2+ year veterans, 29 entered 1–2 years ago, and 76 (42%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
16 of 180 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in TMFC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.