Based on 30 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BOAT 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
30 hedge funds hold BOAT 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.
🚀
Fast accumulation — +100% more funds vs a year ago
fund count last 6Q
+15 new funds entered over the past year (+100% 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.
🟢
More buyers than sellers — 85% buying
22 buying4 selling
Last quarter: 22 funds were net buyers (15 opened a brand new position + 7 added to an existing one). Only 4 were sellers (3 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new BOAT position: 2 → 5 → 4 → 15. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 30% long-term, 47% new
■ 30% conviction (2yr+)
■ 23% medium
■ 47% new
Of the 30 current holders: 9 (30%) held >2 years, 7 held 1–2 years, and 14 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.
💰
Value +310% but shares only +286% — price-driven
Last quarter: the total dollar value of institutional holdings rose +310%, but actual share count only changed +286%. 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.
📈
Growing discovery — still being found
2 → 2 → 5 → 4 → 15 new funds/Q
New funds entering each quarter: 2 → 5 → 4 → 15. A growing number of institutions are discovering BOAT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 43% veterans vs 47% newcomers
■ 43% veterans
■ 10% 1-2yr
■ 47% new
Entry-cohort mix of 30 holders: 13 (43%) are 2+ year veterans, 3 entered 1–2 years ago, and 14 (47%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 61% AUM from top-100 funds
61% from top-100 AUM funds
7 of 30 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in BOAT. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
5.3
out of 10
Moderate Exit Risk
Exit risk score 5.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.