Based on 8 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their ZTRE 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 — 73% of 2.2Y peak
73% of all-time peak
8 funds currently hold this stock — 73% of the 2.2-year high of 11 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold ZTRE compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 44% buying
4 buying5 selling
Last quarter: 5 funds reduced or exited vs 4 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.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 2 → 3 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 12% new
■ 38% conviction (2yr+)
■ 50% medium
■ 12% new
Of the 8 current holders: 3 (38%) held >2 years, 4 held 1–2 years, and 1 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.
➡️
Steady discovery — ~0 new funds/quarter
4 → 0 → 2 → 3 → 0 new funds/Q
New funds entering each quarter: 0 → 2 → 3 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 0% veterans, 38% new entrants
■ 0% veterans
■ 62% 1-2yr
■ 38% new
Of 8 current holders: 0 (0%) held 2+ years, 5 held 1–2 years, 3 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
3 of 8 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.