Based on 37 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their VANI 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 — 88% of 3.0Y peak
88% of all-time peak
37 funds currently hold this stock — 88% of the 3.0-year high of 42 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +28% more funds vs a year ago
fund count last 6Q
+8 new funds entered over the past year (+28% 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.
🔴
Heavy selling pressure — only 38% buying
15 buying24 selling
Last quarter: 24 funds sold vs only 15 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 11 → 13 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 35% long-term, 46% new
■ 35% conviction (2yr+)
■ 19% medium
■ 46% new
Of the 37 current holders: 13 (35%) held >2 years, 7 held 1–2 years, and 17 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.
💰
Price up while funds trimmed (+14% value, -7% shares)
Last quarter: total value of institutional VANI holdings rose +14% even though funds reduced share count by 7%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~8 new funds/quarter
7 → 6 → 11 → 13 → 8 new funds/Q
New funds entering each quarter: 6 → 11 → 13 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 46% veterans vs 43% newcomers
■ 46% veterans
■ 11% 1-2yr
■ 43% new
Entry-cohort mix of 37 holders: 17 (46%) are 2+ year veterans, 4 entered 1–2 years ago, and 16 (43%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
10 of 37 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.