Based on 155 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added BBNX 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
155 hedge funds hold BBNX 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.
🚀
Fast accumulation — +15400% more funds vs a year ago
fund count last 6Q
+154 new funds entered over the past year (+15400% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 71% buying
109 buying44 selling
Last quarter: 109 funds were net buyers (48 opened a brand new position + 61 added to an existing one). Only 44 were sellers (27 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+20 vs last Q)
new funds entering per quarter
Funds opening a new BBNX position: 102 → 26 → 28 → 48. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 55% entered in last year
■ 3% conviction (2yr+)
■ 42% medium
■ 55% new
Only 5 funds (3%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Price up while funds trimmed (+50% value, -2% shares)
Last quarter: total value of institutional BBNX holdings rose +50% even though funds reduced share count by 2%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
0 → 102 → 26 → 28 → 48 new funds/Q
New funds entering each quarter: 102 → 26 → 28 → 48. BBNX is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 94% of holders entered in last year
■ 6% veterans
■ 0% 1-2yr
■ 94% new
Of 156 current holders: 146 (94%) entered in the past year, only 10 (6%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
29 of 155 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.2
out of 10
Moderate Exit Risk
Exit risk score 6.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.