Based on 48 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added BSL 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 — 83% of 3.0Y peak
83% of all-time peak
48 funds currently hold this stock — 83% of the 3.0-year high of 58 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +9% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 45% buying
19 buying23 selling
Last quarter: 23 funds reduced or exited vs 19 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 8 → 6 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
69% of holders stayed for 2+ years
■ 69% conviction (2yr+)
■ 17% medium
■ 15% new
33 out of 48 hedge funds have held BSL 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.
💎
Buying through price weakness — shares +8%, value -12%
Last quarter: funds added +8% more shares while total portfolio value only changed -12%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~7 new funds/quarter
3 → 2 → 8 → 6 → 7 new funds/Q
New funds entering each quarter: 2 → 8 → 6 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 71% veterans vs 19% newcomers
■ 71% veterans
■ 10% 1-2yr
■ 19% new
Entry-cohort mix of 48 holders: 34 (71%) are 2+ year veterans, 5 entered 1–2 years ago, and 9 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 43% AUM from top-100 funds
43% from top-100 AUM funds
8 of 48 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in BSL. 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 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.