Based on 14 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their BAYAR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 67% of 2.8Y high
67% of all-time peak
Only 14 funds hold BAYAR today versus a peak of 21 funds at 2025 Q3 — just 67% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 26% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold BAYAR compared to a year ago (-26% 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: 5 → 0 → 1 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 36% medium
■ 0% new
9 out of 14 hedge funds have held BAYAR 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.
💎
Buying through price weakness — shares -17%, value -100%
Last quarter: funds added -17% more shares while total portfolio value only changed -100%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
2 → 5 → 0 → 1 → 0 new funds/Q
New funds entering each quarter: 5 → 0 → 1 → 0. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Veteran-anchored — 57% veterans vs 29% newcomers
■ 57% veterans
■ 14% 1-2yr
■ 29% new
Entry-cohort mix of 14 holders: 8 (57%) are 2+ year veterans, 2 entered 1–2 years ago, and 4 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
0 of 14 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.