Based on 6 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their BOXL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 35% of 1.0Y high
35% of all-time peak
Only 6 funds hold BOXL today versus a peak of 17 funds at 2025 Q3 — just 35% 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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Heavy selling pressure — only 12% buying
2 buying15 selling
Last quarter: 15 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 3 → 8 → 0. 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.
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Mostly new holders — 33% entered in last year
■ 0% conviction (2yr+)
■ 67% medium
■ 33% new
Only 0 funds (0%) 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.
➡️
Steady discovery — ~0 new funds/quarter
3 → 8 → 0 new funds/Q
New funds entering each quarter: 3 → 8 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 100% of holders entered in last year
■ 0% veterans
■ 0% 1-2yr
■ 100% new
Of 6 current holders: 6 (100%) entered in the past year, only 0 (0%) 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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Elite ownership — 67% AUM from top-100 funds
67% from top-100 AUM funds
3 of 6 holders are among the 100 largest funds by AUM, controlling 67% of total institutional value in BOXL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.