Based on 33 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 BIVI 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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High ownership — 80% of 3.0Y peak
80% of all-time peak
33 funds currently hold this stock — 80% of the 3.0-year high of 41 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold BIVI compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 50% buying
12 buying12 selling
Last quarter: 12 funds bought or added vs 12 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 — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 8 → 10 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 33% entered in last year
■ 6% conviction (2yr+)
■ 61% medium
■ 33% new
Only 2 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares -3%, value -41%
Last quarter: funds added -3% more shares while total portfolio value only changed -41%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~7 new funds/quarter
18 → 6 → 8 → 10 → 7 new funds/Q
New funds entering each quarter: 6 → 8 → 10 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 6% veterans, 45% new entrants
■ 6% veterans
■ 48% 1-2yr
■ 45% new
Of 33 current holders: 2 (6%) held 2+ years, 16 held 1–2 years, 15 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
11 of 33 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.