Based on 86 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added BPRN 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
86 hedge funds hold BPRN 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 — +21% more funds vs a year ago
fund count last 6Q
+15 new funds entered over the past year (+21% 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.
🟡
Slight buying edge — 58% buying
42 buying30 selling
Last quarter: 42 funds bought or added vs 30 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new BPRN position: 7 → 10 → 9 → 15. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 22% medium
■ 23% new
47 out of 86 hedge funds have held BPRN 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.
📈
Growing discovery — still being found
8 → 7 → 10 → 9 → 15 new funds/Q
New funds entering each quarter: 7 → 10 → 9 → 15. A growing number of institutions are discovering BPRN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 56% veterans vs 29% newcomers
■ 56% veterans
■ 15% 1-2yr
■ 29% new
Entry-cohort mix of 86 holders: 48 (56%) are 2+ year veterans, 13 entered 1–2 years ago, and 25 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
25 of 86 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.