Based on 20 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their BKHAR 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 — 83% of 3.0Y peak
83% of all-time peak
20 funds currently hold this stock — 83% of the 3.0-year high of 24 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BKHAR is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🔴
Heavy selling pressure — only 29% buying
2 buying5 selling
Last quarter: 5 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 0 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 10% entered in last year
■ 5% conviction (2yr+)
■ 85% medium
■ 10% new
Only 1 funds (5%) 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.
💰
Value +13294% but shares only +0% — price-driven
Last quarter: the total dollar value of institutional holdings rose +13294%, but actual share count only changed +0%. 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.
⚠️
Saturation — most institutions already know this story
3 → 4 → 1 → 0 → 1 new funds/Q
New funds entering each quarter: 4 → 1 → 0 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
📊
Mixed cohorts — 5% veterans, 35% new entrants
■ 5% veterans
■ 60% 1-2yr
■ 35% new
Of 20 current holders: 1 (5%) held 2+ years, 12 held 1–2 years, 7 (35%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
3 of 20 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in BKHAR. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.