Based on 41 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their BWAY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (98% of max)
98% of all-time peak
41 hedge funds hold BWAY 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.
📶
Steady growth — +8% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 53% buying
23 buying20 selling
Last quarter: 23 funds bought or added vs 20 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.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 5 → 10 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 34% long-term, 27% new
■ 34% conviction (2yr+)
■ 39% medium
■ 27% new
Of the 41 current holders: 14 (34%) held >2 years, 16 held 1–2 years, and 11 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.
💰
Value +38% but shares only +9% — price-driven
Last quarter: the total dollar value of institutional holdings rose +38%, but actual share count only changed +9%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~7 new funds/quarter
10 → 9 → 5 → 10 → 7 new funds/Q
New funds entering each quarter: 9 → 5 → 10 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 38% veterans, 43% new entrants
■ 38% veterans
■ 19% 1-2yr
■ 43% new
Of 42 current holders: 16 (38%) held 2+ years, 8 held 1–2 years, 18 (43%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 3% AUM from top-100
3% from top-100 AUM funds
7 of 41 holders rank in the top 100 by AUM, but together hold only 3% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.