Based on 159 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 TYG 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
159 hedge funds hold TYG 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 — +20% more funds vs a year ago
fund count last 6Q
+26 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 57% buying
77 buying58 selling
Last quarter: 77 funds bought or added vs 58 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 (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 22 → 33 → 21. 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.
🔒
52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 24% medium
■ 25% new
82 out of 159 hedge funds have held TYG 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.
💎
Buying through price weakness — shares -2%, value -55%
Last quarter: funds added -2% more shares while total portfolio value only changed -55%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
16 → 10 → 22 → 33 → 21 new funds/Q
New funds entering each quarter: 10 → 22 → 33 → 21. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Veteran-anchored — 56% veterans vs 28% newcomers
■ 56% veterans
■ 16% 1-2yr
■ 28% new
Entry-cohort mix of 159 holders: 89 (56%) are 2+ year veterans, 25 entered 1–2 years ago, and 45 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
13 of 158 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.