Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BENFW 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 60% of 3.0Y high
60% of all-time peak
Only 21 funds hold BENFW today versus a peak of 35 funds at 2023 Q2 — just 60% 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 — 9% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold BENFW compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 67% buying
2 buying1 selling
Last quarter: 2 funds were net buyers (2 opened a brand new position + 0 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 1 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
76% of holders stayed for 2+ years
■ 76% conviction (2yr+)
■ 14% medium
■ 10% new
16 out of 21 hedge funds have held BENFW 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.
💰
Value +32% but shares only +2% — price-driven
Last quarter: the total dollar value of institutional holdings rose +32%, but actual share count only changed +2%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Peak discovery — momentum slowing
3 → 2 → 3 → 1 → 2 new funds/Q
New funds entering each quarter: 2 → 3 → 1 → 2. BENFW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 81% veterans vs 14% newcomers
■ 81% veterans
■ 5% 1-2yr
■ 14% new
Entry-cohort mix of 21 holders: 17 (81%) are 2+ year veterans, 1 entered 1–2 years ago, and 3 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 10% AUM from top-100
10% from top-100 AUM funds
4 of 20 holders rank in the top 100 by AUM, but together hold only 10% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.