Based on 61 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added BVFL 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
61 hedge funds hold BVFL 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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Fast accumulation — +69% more funds vs a year ago
fund count last 6Q
+25 new funds entered over the past year (+69% 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.
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Slight buying edge — 55% buying
31 buying25 selling
Last quarter: 31 funds bought or added vs 25 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 4 → 25 → 16 → 9. 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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Mixed — 26% long-term, 54% new
■ 26% conviction (2yr+)
■ 20% medium
■ 54% new
Of the 61 current holders: 16 (26%) held >2 years, 12 held 1–2 years, and 33 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.
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Steady discovery — ~9 new funds/quarter
10 → 4 → 25 → 16 → 9 new funds/Q
New funds entering each quarter: 4 → 25 → 16 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 30% veterans, 54% new entrants
■ 30% veterans
■ 16% 1-2yr
■ 54% new
Of 61 current holders: 18 (30%) held 2+ years, 10 held 1–2 years, 33 (54%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 62% AUM from top-100 funds
62% from top-100 AUM funds
22 of 61 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in BVFL. 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.