Based on 68 hedge funds · latest filing: 2026 Q1 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
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High ownership — 76% of 3.0Y peak
76% of all-time peak
68 funds currently hold this stock — 76% of the 3.0-year high of 90 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 22% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold ULH compared to a year ago (-22% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 55% buying
38 buying31 selling
Last quarter: 38 funds bought or added vs 31 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.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new ULH position: 4 → 8 → 7 → 13. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 18% medium
■ 24% new
40 out of 68 hedge funds have held ULH 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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Price up while funds trimmed (+37% value, -1% shares)
Last quarter: total value of institutional ULH holdings rose +37% even though funds reduced share count by 1%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
16 → 4 → 8 → 7 → 13 new funds/Q
New funds entering each quarter: 4 → 8 → 7 → 13. A growing number of institutions are discovering ULH each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 59% veterans vs 28% newcomers
■ 59% veterans
■ 13% 1-2yr
■ 28% new
Entry-cohort mix of 68 holders: 40 (59%) are 2+ year veterans, 9 entered 1–2 years ago, and 19 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 82% AUM from top-100 funds
82% from top-100 AUM funds
26 of 68 holders are among the 100 largest funds by AUM, controlling 82% of total institutional value in ULH. 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 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.