Hedge-Fund Ownership factor
How widely and how heavily concentrated hedge funds hold the stock, from quarterly 13F filings, using only filings already public on each date. Part of FactorPulse's FPUS1 model (Style: dynamics).
The exposure shown is this measure standardized across stocks and taken net of the market and of International, Beta, Size, Long-Term Momentum, Residual Volatility, Liquidity, Growth, Value, Leverage, Profitability, Dividend Yield and Short Interest (position 13 of 18 style factors).
Last 12 months
Full history
History before Jul 15, 2026 is simulated: it was regenerated on that date with the methodology adopted then, not recorded live, and charts shade that period. Later changes apply from their dates forward; see the revision log. Point-in-time risk forecasts begin Jul 30, 2026.
Statistics
| Period | Return | Volatility (ann.) | Return / risk | Max drawdown |
|---|---|---|---|---|
| 1M | -0.51% | 2.1% | -2.84 | -0.66% |
| 3M | -0.58% | 1.8% | -1.31 | -1.18% |
| YTD | -4.00% | 2.1% | -2.29 | -4.49% |
| 1Y | -2.79% | 2.0% | -1.36 | -4.49% |
| Since Jul 2026 (live) | -0.81% | 1.8% | -1.54 | -1.18% |
| Since 2020 (incl. simulated) | -0.62% | 1.8% | -0.05 | -4.70% |
Returns are summed daily long/short factor returns before costs. Volatility and return/risk are annualized from daily data. Each factor is measured net of other factors (see above), so its return can differ from familiar indexes built on the same idea. Section 9 of the methodology (Empirical Factor Behavior) discusses each factor's realized return.
Large companies most and least exposed today
Among the 500 largest US-listed companies (market cap above $26B). Exposure is in standard deviations across about 2,000 stocks, net of the factors ranked ahead of it. When the factor return is positive, stocks with higher ownership by concentrated hedge funds outperform; when it is negative, stocks with higher ownership by concentrated hedge funds underperform.
Highest exposure
- Sea Limited SE +2.31 · $46B
- Teck Resources Limited TECK +2.04 · $31B
- Kenvue Inc. KVUE +2.00 · $37B
- Canadian Pacific Kansas City Limited CP +1.96 · $79B
- Canadian National Railway CNI +1.96 · $75B
- Ryanair Holdings plc RYAAY +1.86 · $27B
- Revolution Medicines, Inc. RVMD +1.85 · $40B
- Brookfield Corporation BN +1.79 · $86B
- Progressive Corporation PGR +1.77 · $131B
- Sunbelt Rentals Holdings, Inc. SUNB +1.76 · $34B
Lowest exposure
- EchoStar Corporation ECHO -2.43 · $27B
- SharkNinja, Inc. SN -2.27 · $28B
- Honeywell Aerospace Inc. HONA -2.11 · $56B
- Seagate Technology Holdings PLC STX -2.08 · $161B
- Credo Technology Group Holding Ltd CRDO -2.05 · $33B
- Space Exploration Technologies Corp. SPCX -2.02 · $2.0T
- Royal Caribbean Group RCL -2.00 · $80B
- Alnylam Pharmaceuticals, Inc. ALNY -1.99 · $31B
- Berkshire Hathaway Inc. BRK.A -1.97 · $1.2T
- CrowdStrike Holdings, Inc. CRWD -1.93 · $273B
What it moves with
Most positively correlated factors (1 year)
- Growth +0.53
- Short Interest +0.29
- Bitcoin / Crypto +0.22
Most negatively correlated factors
- Dividend Yield -0.49
- Semiconductors -0.36
- Long-Term Momentum -0.35
Correlation with ETFs
| ETF | 1 year | 3 months |
|---|---|---|
| SPY S&P 500 | -0.05 | +0.03 |
| IWM Small caps | -0.14 | +0.13 |
| TLT Long Treasuries | +0.02 | +0.15 |
| USO Oil | -0.09 | -0.23 |
| SMH Semiconductors | -0.25 | -0.09 |
| GLD Gold | -0.07 | +0.17 |
| XLU Utilities | -0.15 | -0.05 |
| BITO Bitcoin futures | -0.01 | +0.26 |
| KWEB China internet | +0.09 | +0.44 |