Based on 112 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added BH 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 (100% of max)
100% of all-time peak
112 hedge funds hold BH 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.
🚀
Fast accumulation — +51% more funds vs a year ago
fund count last 6Q
+38 new funds entered over the past year (+51% 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.
🟡
Slight buying edge — 57% buying
60 buying45 selling
Last quarter: 60 funds bought or added vs 45 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~27 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 23 → 16 → 22 → 27. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 24% medium
■ 30% new
51 out of 112 hedge funds have held BH 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.
📈
Growing discovery — still being found
14 → 23 → 16 → 22 → 27 new funds/Q
New funds entering each quarter: 23 → 16 → 22 → 27. A growing number of institutions are discovering BH each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 58% veterans vs 34% newcomers
■ 58% veterans
■ 8% 1-2yr
■ 34% new
Entry-cohort mix of 112 holders: 65 (58%) are 2+ year veterans, 9 entered 1–2 years ago, and 38 (34%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 13% AUM from top-100
13% from top-100 AUM funds
34 of 112 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.