Based on 30 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added BLNE 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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At the ownership peak (100% of max)
100% of all-time peak
30 hedge funds hold BLNE right now — the highest count in 2.8 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.
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Fast accumulation — +2900% more funds vs a year ago
fund count last 6Q
+29 new funds entered over the past year (+2900% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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More buyers than sellers — 61% buying
19 buying12 selling
Last quarter: 19 funds were net buyers (13 opened a brand new position + 6 added to an existing one). Only 12 were sellers (6 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 7 → 14 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 83% entered in last year
■ 3% conviction (2yr+)
■ 13% medium
■ 83% new
Only 1 funds (3%) 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.
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Buying through price weakness — shares +70%, value -26%
Last quarter: funds added +70% more shares while total portfolio value only changed -26%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
0 → 7 → 7 → 14 → 13 new funds/Q
New funds entering each quarter: 7 → 7 → 14 → 13. A growing number of institutions are discovering BLNE each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Early stage — 97% of holders entered in last year
■ 3% veterans
■ 0% 1-2yr
■ 97% new
Of 30 current holders: 29 (97%) entered in the past year, only 1 (3%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
8 of 30 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 7.1/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.