Based on 185 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their BLND positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (95% of max)
95% of all-time peak
185 hedge funds hold BLND right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BLND is almost the same as a year ago (-6 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 42% buying
87 buying119 selling
Last quarter: 119 funds reduced or exited vs 87 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 — ~33 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 41 → 30 → 36 → 33. 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+)
■ 34% medium
■ 25% new
76 out of 185 hedge funds have held BLND 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.
💰
Value +5657% but shares only +5% — price-driven
Last quarter: the total dollar value of institutional holdings rose +5657%, but actual share count only changed +5%. 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.
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Steady discovery — ~33 new funds/quarter
53 → 41 → 30 → 36 → 33 new funds/Q
New funds entering each quarter: 41 → 30 → 36 → 33. 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 191 current holders: 98 (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.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
30 of 185 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.