Based on 153 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 BWX 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 (100% of max)
100% of all-time peak
153 hedge funds hold BWX 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 — +25% more funds vs a year ago
fund count last 6Q
+31 new funds entered over the past year (+25% 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 — 56% buying
84 buying67 selling
Last quarter: 84 funds bought or added vs 67 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.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new BWX position: 18 → 38 → 20 → 27. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 24% medium
■ 19% new
88 out of 153 hedge funds have held BWX 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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Peak discovery — momentum slowing
23 → 18 → 38 → 20 → 27 new funds/Q
New funds entering each quarter: 18 → 38 → 20 → 27. BWX is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Deep conviction — 66% of holders stayed 2+ years
■ 66% veterans
■ 11% 1-2yr
■ 23% new
Of 154 current holders: 102 (66%) 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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Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
17 of 153 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.