Based on 27 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added BFRZ 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
27 hedge funds hold BFRZ 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 — +2600% more funds vs a year ago
fund count last 6Q
+26 new funds entered over the past year (+2600% 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.
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More buyers than sellers — 89% buying
25 buying3 selling
Last quarter: 25 funds were net buyers (11 opened a brand new position + 14 added to an existing one). Only 3 were sellers (1 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 8 → 10 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 96% entered in last year
■ 4% conviction (2yr+)
■ 0% medium
■ 96% new
Only 1 funds (4%) 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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Growing discovery — still being found
0 → 0 → 8 → 10 → 11 new funds/Q
New funds entering each quarter: 0 → 8 → 10 → 11. A growing number of institutions are discovering BFRZ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Early stage — 96% of holders entered in last year
■ 4% veterans
■ 0% 1-2yr
■ 96% new
Of 27 current holders: 26 (96%) entered in the past year, only 1 (4%) 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 — 26% AUM from major funds
26% from top-100 AUM funds
1 of 27 holders rank in the top 100 by AUM, accounting for 26% 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.