Based on 71 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 BGR 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
71 hedge funds hold BGR 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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Steady growth — +15% more funds vs a year ago
fund count last 6Q
+9 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 62% buying
40 buying24 selling
Last quarter: 40 funds were net buyers (14 opened a brand new position + 26 added to an existing one). Only 24 were sellers (18 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new BGR position: 11 → 9 → 6 → 14. 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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59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 14% medium
■ 27% new
42 out of 71 hedge funds have held BGR 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 — ~14 new funds/quarter
12 → 11 → 9 → 6 → 14 new funds/Q
New funds entering each quarter: 11 → 9 → 6 → 14. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 4% 1-2yr
■ 31% new
Of 71 current holders: 46 (65%) 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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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
9 of 71 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in BGR. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.