Based on 14 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BENF 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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Below peak — only 67% of 2.5Y high
67% of all-time peak
Only 14 funds hold BENF today versus a peak of 21 funds at 2024 Q4 — 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 — 30% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold BENF compared to a year ago (-30% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 69% buying
9 buying4 selling
Last quarter: 9 funds were net buyers (3 opened a brand new position + 6 added to an existing one). Only 4 were sellers (2 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 2 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 50% entered in last year
■ 14% conviction (2yr+)
■ 36% medium
■ 50% new
Only 2 funds (14%) 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 — ~3 new funds/quarter
4 → 6 → 2 → 4 → 3 new funds/Q
New funds entering each quarter: 6 → 2 → 4 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 0% veterans, 50% new entrants
■ 0% veterans
■ 50% 1-2yr
■ 50% new
Of 14 current holders: 0 (0%) held 2+ years, 7 held 1–2 years, 7 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
8 of 14 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in BENF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.