Based on 207 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BATRA than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
207 hedge funds hold BATRA 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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Steady growth — +13% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 60% buying
99 buying66 selling
Last quarter: 99 funds were net buyers (33 opened a brand new position + 66 added to an existing one). Only 66 were sellers (43 trimmed + 23 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 26 → 18 → 41 → 33. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 24% medium
■ 26% new
104 out of 207 hedge funds have held BATRA 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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Acceleration phase — new buyers rushing in
28 → 26 → 18 → 41 → 33 new funds/Q
New funds entering each quarter: 26 → 18 → 41 → 33. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Veteran-anchored — 53% veterans vs 29% newcomers
■ 53% veterans
■ 18% 1-2yr
■ 29% new
Entry-cohort mix of 211 holders: 112 (53%) are 2+ year veterans, 38 entered 1–2 years ago, and 61 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
36 of 205 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.