Based on 291 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their UHAL/B 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 — 90% of 3.0Y peak
90% of all-time peak
291 funds currently hold this stock — 90% of the 3.0-year high of 323 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 7% fewer funds vs a year ago
fund count last 6Q
22 fewer hedge funds hold UHAL/B compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 52% buying
154 buying145 selling
Last quarter: 154 funds bought or added vs 145 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 (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 34 → 48 → 53 → 40. 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+)
■ 26% medium
■ 21% new
152 out of 291 hedge funds have held UHAL/B 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.
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Growing discovery — still being found
40 → 34 → 48 → 53 → 40 new funds/Q
New funds entering each quarter: 34 → 48 → 53 → 40. A growing number of institutions are discovering UHAL/B each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 60% veterans vs 27% newcomers
■ 60% veterans
■ 13% 1-2yr
■ 27% new
Entry-cohort mix of 293 holders: 176 (60%) are 2+ year veterans, 39 entered 1–2 years ago, and 78 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
47 of 291 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.