Based on 407 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added BYD 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
407 hedge funds hold BYD 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 — +21% more funds vs a year ago
fund count last 6Q
+72 new funds entered over the past year (+21% 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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More sellers than buyers — 49% buying
215 buying223 selling
Last quarter: 223 funds reduced or exited vs 215 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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More new buyers each quarter (+15 vs last Q)
new funds entering per quarter
Funds opening a new BYD position: 59 → 57 → 80 → 95. 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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59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 19% medium
■ 22% new
242 out of 407 hedge funds have held BYD 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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Acceleration phase — new buyers rushing in
62 → 59 → 57 → 80 → 95 new funds/Q
New funds entering each quarter: 59 → 57 → 80 → 95. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 10% 1-2yr
■ 25% new
Of 422 current holders: 274 (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 — 47% AUM from top-100 funds
47% from top-100 AUM funds
43 of 407 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in BYD. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.