Based on 41 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their BKHY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 79% of 3.0Y peak
79% of all-time peak
41 funds currently hold this stock — 79% of the 3.0-year high of 52 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 — 21% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold BKHY compared to a year ago (-21% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
22 buying25 selling
Last quarter: 25 funds reduced or exited vs 22 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 10 → 10 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
41% of holders stayed for 2+ years
■ 41% conviction (2yr+)
■ 24% medium
■ 34% new
17 out of 41 hedge funds have held BKHY 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.
➡️
Steady discovery — ~6 new funds/quarter
12 → 4 → 10 → 10 → 6 new funds/Q
New funds entering each quarter: 4 → 10 → 10 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 39% veterans, 37% new entrants
■ 39% veterans
■ 24% 1-2yr
■ 37% new
Of 41 current holders: 16 (39%) held 2+ years, 10 held 1–2 years, 15 (37%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 14% AUM from top-100
14% from top-100 AUM funds
7 of 41 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.