Based on 15 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their BHR/PRB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 88% of 3.0Y peak
88% of all-time peak
15 funds currently hold this stock — 88% of the 3.0-year high of 17 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +15% more funds vs a year ago
fund count last 6Q
+2 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.
🔴
Heavy selling pressure — only 37% buying
7 buying12 selling
Last quarter: 12 funds sold vs only 7 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 2 → 5 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 7% medium
■ 27% new
10 out of 15 hedge funds have held BHR/PRB 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.
💰
Price up while funds trimmed (-3% value, -43% shares)
Last quarter: total value of institutional BHR/PRB holdings rose -3% even though funds reduced share count by 43%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~4 new funds/quarter
0 → 0 → 2 → 5 → 4 new funds/Q
New funds entering each quarter: 0 → 2 → 5 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 60% veterans vs 27% newcomers
■ 60% veterans
■ 13% 1-2yr
■ 27% new
Entry-cohort mix of 15 holders: 9 (60%) are 2+ year veterans, 2 entered 1–2 years ago, and 4 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
5 of 15 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.