Based on 53 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BBOT 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.
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At the ownership peak (100% of max)
100% of all-time peak
53 hedge funds hold BBOT 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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Fast accumulation — +5200% more funds vs a year ago
fund count last 6Q
+52 new funds entered over the past year (+5200% 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.
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More buyers than sellers — 64% buying
27 buying15 selling
Last quarter: 27 funds were net buyers (15 opened a brand new position + 12 added to an existing one). Only 15 were sellers (12 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-25 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 40 → 15. 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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Mostly new holders — 96% entered in last year
■ 2% conviction (2yr+)
■ 2% medium
■ 96% new
Only 1 funds (2%) 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.
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Steady discovery — ~15 new funds/quarter
0 → 0 → 0 → 40 → 15 new funds/Q
New funds entering each quarter: 0 → 0 → 40 → 15. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 94% of holders entered in last year
■ 6% veterans
■ 0% 1-2yr
■ 94% new
Of 53 current holders: 50 (94%) entered in the past year, only 3 (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.
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Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
12 of 53 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 7.4/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.