Based on 152 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added USAS than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
152 hedge funds hold USAS 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 — +171% more funds vs a year ago
fund count last 6Q
+96 new funds entered over the past year (+171% 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.
🟢
More buyers than sellers — 66% buying
106 buying55 selling
Last quarter: 106 funds were net buyers (58 opened a brand new position + 48 added to an existing one). Only 55 were sellers (31 trimmed + 24 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new USAS position: 13 → 26 → 50 → 58. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 25% long-term, 59% new
■ 25% conviction (2yr+)
■ 16% medium
■ 59% new
Of the 152 current holders: 38 (25%) held >2 years, 25 held 1–2 years, and 89 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.
🚀
Acceleration phase — new buyers rushing in
16 → 13 → 26 → 50 → 58 new funds/Q
New funds entering each quarter: 13 → 26 → 50 → 58. 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.
🌱
Early stage — 58% of holders entered in last year
■ 35% veterans
■ 7% 1-2yr
■ 58% new
Of 162 current holders: 94 (58%) entered in the past year, only 57 (35%) 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 — 21% AUM from major funds
21% from top-100 AUM funds
32 of 151 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.5
out of 10
Moderate Exit Risk
Exit risk score 6.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.