Based on 9 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 BGI 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
9 hedge funds hold BGI 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 — +29% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+29% 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 — 83% buying
5 buying1 selling
Last quarter: 5 funds were net buyers (4 opened a brand new position + 1 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 1 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 33% medium
■ 11% new
5 out of 9 hedge funds have held BGI 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.
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Steady discovery — ~4 new funds/quarter
1 → 1 → 4 → 1 → 4 new funds/Q
New funds entering each quarter: 1 → 4 → 1 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 67% veterans vs 11% newcomers
■ 67% veterans
■ 22% 1-2yr
■ 11% new
Entry-cohort mix of 9 holders: 6 (67%) are 2+ year veterans, 2 entered 1–2 years ago, and 1 (11%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 70% AUM from top-100 funds
70% from top-100 AUM funds
3 of 9 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in BGI. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.