Based on 86 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BFEB 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.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
86 hedge funds hold BFEB 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.
📶
Steady growth — +13% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 33% buying
22 buying45 selling
Last quarter: 45 funds sold vs only 22 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new BFEB position: 18 → 11 → 3 → 12. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 19% medium
■ 15% new
57 out of 86 hedge funds have held BFEB 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.
⚠️
Saturation — most institutions already know this story
7 → 18 → 11 → 3 → 12 new funds/Q
New funds entering each quarter: 18 → 11 → 3 → 12. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 66% of holders stayed 2+ years
■ 66% veterans
■ 12% 1-2yr
■ 22% new
Of 86 current holders: 57 (66%) 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.
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Smaller funds dominant — 4% AUM from top-100
4% from top-100 AUM funds
6 of 86 holders rank in the top 100 by AUM, but together hold only 4% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.