Based on 97 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 BLCO 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 — 91% of 3.0Y peak
91% of all-time peak
97 funds currently hold this stock — 91% of the 3.0-year high of 107 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 9% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold BLCO compared to a year ago (-9% 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
50 buying51 selling
Last quarter: 50 funds bought or added vs 51 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 — ~21 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 25 → 19 → 17 → 21. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 38% long-term, 30% new
■ 38% conviction (2yr+)
■ 32% medium
■ 30% new
Of the 97 current holders: 37 (38%) held >2 years, 31 held 1–2 years, and 29 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Buying through price weakness — shares +2%, value -99%
Last quarter: funds added +2% more shares while total portfolio value only changed -99%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~21 new funds/quarter
27 → 25 → 19 → 17 → 21 new funds/Q
New funds entering each quarter: 25 → 19 → 17 → 21. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 51% of holders stayed 2+ years
■ 51% veterans
■ 14% 1-2yr
■ 35% new
Of 100 current holders: 51 (51%) 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.
✅
Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
16 of 97 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.