Based on 14 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 BAFN 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
14 funds currently hold this stock — 88% of the 3.0-year high of 16 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 7% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold BAFN compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 62% buying
10 buying6 selling
Last quarter: 10 funds were net buyers (3 opened a brand new position + 7 added to an existing one). Only 6 were sellers (1 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 0 → 6 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 29% long-term, 43% new
■ 29% conviction (2yr+)
■ 29% medium
■ 43% new
Of the 14 current holders: 4 (29%) held >2 years, 4 held 1–2 years, and 6 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.
💎
Buying through price weakness — shares -5%, value -26%
Last quarter: funds added -5% more shares while total portfolio value only changed -26%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
3 → 1 → 0 → 6 → 3 new funds/Q
New funds entering each quarter: 1 → 0 → 6 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 21% veterans, 50% new entrants
■ 21% veterans
■ 29% 1-2yr
■ 50% new
Of 14 current holders: 3 (21%) held 2+ years, 4 held 1–2 years, 7 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 27% AUM from major funds
27% from top-100 AUM funds
8 of 14 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.