Based on 132 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BETA 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
132 hedge funds hold BETA 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 — +6500% more funds vs a year ago
fund count last 6Q
+130 new funds entered over the past year (+6500% 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. The peak was reached in just 3 quarters from the low — a sharp move.
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More buyers than sellers — 100% buying
131 buying0 selling
Last quarter: 131 funds were net buyers (131 opened a brand new position + 0 added to an existing one). Only 0 were sellers (0 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+131 vs last Q)
new funds entering per quarter
Funds opening a new BETA position: 0 → 1 → 0 → 131. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mostly new holders — 96% entered in last year
■ 3% conviction (2yr+)
■ 1% medium
■ 96% new
Only 4 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.
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Buying through price weakness — shares +17807%, value +17625%
Last quarter: funds added +17807% more shares while total portfolio value only changed +17625%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
0 → 0 → 1 → 0 → 131 new funds/Q
New funds entering each quarter: 0 → 1 → 0 → 131. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Early stage — 94% of holders entered in last year
■ 6% veterans
■ 0% 1-2yr
■ 94% new
Of 136 current holders: 128 (94%) entered in the past year, only 8 (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 — 39% AUM from major funds
39% from top-100 AUM funds
21 of 132 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.