Based on 165 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 BXMX 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
165 hedge funds hold BXMX 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BXMX is almost the same as a year ago (+5 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 59% buying
83 buying57 selling
Last quarter: 83 funds bought or added vs 57 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 (+22 vs last Q)
new funds entering per quarter
Funds opening a new BXMX position: 18 → 12 → 9 → 31. 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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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 18% medium
■ 18% new
105 out of 165 hedge funds have held BXMX 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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Value +182% but shares only +1% — price-driven
Last quarter: the total dollar value of institutional holdings rose +182%, but actual share count only changed +1%. 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.
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Growing discovery — still being found
25 → 18 → 12 → 9 → 31 new funds/Q
New funds entering each quarter: 18 → 12 → 9 → 31. A growing number of institutions are discovering BXMX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 10% 1-2yr
■ 24% new
Of 165 current holders: 108 (65%) 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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Elite ownership — 86% AUM from top-100 funds
86% from top-100 AUM funds
14 of 165 holders are among the 100 largest funds by AUM, controlling 86% of total institutional value in BXMX. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.