Based on 136 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BCSF 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.
📊
High ownership — 93% of 3.0Y peak
93% of all-time peak
136 funds currently hold this stock — 93% of the 3.0-year high of 146 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BCSF is almost the same as a year ago (+3 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 52% buying
69 buying64 selling
Last quarter: 69 funds bought or added vs 64 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈
More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new BCSF position: 30 → 15 → 14 → 25. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 23% medium
■ 24% new
73 out of 136 hedge funds have held BCSF 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.
➡️
Steady discovery — ~25 new funds/quarter
26 → 30 → 15 → 14 → 25 new funds/Q
New funds entering each quarter: 30 → 15 → 14 → 25. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 15% 1-2yr
■ 27% new
Of 140 current holders: 81 (58%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
17 of 136 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.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.