Based on 18 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their ULY 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 — 82% of 1.0Y peak
82% of all-time peak
18 funds currently hold this stock — 82% of the 1.0-year high of 22 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🟠
More sellers than buyers — 44% buying
7 buying9 selling
Last quarter: 9 funds reduced or exited vs 7 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.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 2 → 11 → 3. 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.
🔄
Mostly new holders — 50% entered in last year
■ 0% conviction (2yr+)
■ 50% medium
■ 50% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares -21%, value -100%
Last quarter: funds added -21% more shares while total portfolio value only changed -100%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
2 → 11 → 3 new funds/Q
New funds entering each quarter: 2 → 11 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 100% of holders entered in last year
■ 0% veterans
■ 0% 1-2yr
■ 100% new
Of 18 current holders: 18 (100%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
7 of 18 holders rank in the top 100 by AUM, accounting for 34% 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.