Based on 926 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BIIB 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
926 hedge funds hold BIIB 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 — +17% more funds vs a year ago
fund count last 6Q
+136 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 4 quarters from the low — a sharp move.
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Slight buying edge — 57% buying
499 buying374 selling
Last quarter: 499 funds bought or added vs 374 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.
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More new buyers each quarter (+62 vs last Q)
new funds entering per quarter
Funds opening a new BIIB position: 120 → 94 → 123 → 185. 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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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 14% medium
■ 17% new
633 out of 926 hedge funds have held BIIB 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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Value +33% but shares only +6% — price-driven
Last quarter: the total dollar value of institutional holdings rose +33%, but actual share count only changed +6%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
107 → 120 → 94 → 123 → 185 new funds/Q
New funds entering each quarter: 120 → 94 → 123 → 185. A growing number of institutions are discovering BIIB each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 73% of holders stayed 2+ years
■ 73% veterans
■ 7% 1-2yr
■ 20% new
Of 970 current holders: 704 (73%) 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 — 50% AUM from top-100 funds
50% from top-100 AUM funds
44 of 926 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in BIIB. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.