Based on 17 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BNR 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 — 81% of 3.0Y peak
81% of all-time peak
17 funds currently hold this stock — 81% of the 3.0-year high of 21 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BNR is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 62% buying
10 buying6 selling
Last quarter: 10 funds were net buyers (4 opened a brand new position + 6 added to an existing one). Only 6 were sellers (3 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 2 → 4. 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+)
■ 41% medium
■ 18% new
7 out of 17 hedge funds have held BNR 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.
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Buying through price weakness — shares +1%, value -46%
Last quarter: funds added +1% more shares while total portfolio value only changed -46%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~4 new funds/quarter
1 → 2 → 3 → 2 → 4 new funds/Q
New funds entering each quarter: 2 → 3 → 2 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 6% veterans, 18% new entrants
■ 6% veterans
■ 76% 1-2yr
■ 18% new
Of 17 current holders: 1 (6%) held 2+ years, 13 held 1–2 years, 3 (18%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
9 of 17 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.