Based on 59 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BUFT 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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At the ownership peak (95% of max)
95% of all-time peak
59 hedge funds hold BUFT 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.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold BUFT compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 47% buying
23 buying26 selling
Last quarter: 26 funds reduced or exited vs 23 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.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 7 → 5 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 17% medium
■ 22% new
36 out of 59 hedge funds have held BUFT 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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Steady discovery — ~10 new funds/quarter
9 → 7 → 7 → 5 → 10 new funds/Q
New funds entering each quarter: 7 → 7 → 5 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 54% of holders stayed 2+ years
■ 54% veterans
■ 17% 1-2yr
■ 29% new
Of 59 current holders: 32 (54%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
2 of 59 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.