Based on 4 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their BLCV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 19% of 2.5Y high
19% of all-time peak
Only 4 funds hold BLCV today versus a peak of 21 funds at 2025 Q4 — just 19% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 64% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold BLCV compared to a year ago (-64% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 14% buying
3 buying18 selling
Last quarter: 18 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 2 → 8 → 7 → 1. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 25% long-term, 25% new
■ 25% conviction (2yr+)
■ 50% medium
■ 25% new
Of the 4 current holders: 1 (25%) held >2 years, 2 held 1–2 years, and 1 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.
📊
Peak discovery — momentum slowing
5 → 2 → 8 → 7 → 1 new funds/Q
New funds entering each quarter: 2 → 8 → 7 → 1. BLCV is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 25% veterans, 50% new entrants
■ 25% veterans
■ 25% 1-2yr
■ 50% new
Of 4 current holders: 1 (25%) held 2+ years, 1 held 1–2 years, 2 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
0 of 4 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.