Based on 224 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their UTZ positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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At the ownership peak (96% of max)
96% of all-time peak
224 hedge funds hold UTZ 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.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold UTZ compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 49% buying
125 buying128 selling
Last quarter: 128 funds reduced or exited vs 125 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.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new UTZ position: 37 → 29 → 41 → 49. 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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56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 25% medium
■ 20% new
125 out of 224 hedge funds have held UTZ 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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Buying through price weakness — shares -5%, value -31%
Last quarter: funds added -5% more shares while total portfolio value only changed -31%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
42 → 37 → 29 → 41 → 49 new funds/Q
New funds entering each quarter: 37 → 29 → 41 → 49. A growing number of institutions are discovering UTZ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 64% veterans vs 24% newcomers
■ 64% veterans
■ 13% 1-2yr
■ 24% new
Entry-cohort mix of 229 holders: 146 (64%) are 2+ year veterans, 29 entered 1–2 years ago, and 54 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
50 of 223 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.