Based on 33 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DBE 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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High ownership — 73% of 3.0Y peak
73% of all-time peak
33 funds currently hold this stock — 73% of the 3.0-year high of 45 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding DBE is almost the same as a year ago (-1 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 50% buying
13 buying13 selling
Last quarter: 13 funds bought or added vs 13 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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Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 9 → 2 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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70% of holders stayed for 2+ years
■ 70% conviction (2yr+)
■ 15% medium
■ 15% new
23 out of 33 hedge funds have held DBE 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 +112% but shares only +37% — price-driven
Last quarter: the total dollar value of institutional holdings rose +112%, but actual share count only changed +37%. 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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Saturation — most institutions already know this story
7 → 4 → 9 → 2 → 4 new funds/Q
New funds entering each quarter: 4 → 9 → 2 → 4. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 73% veterans vs 21% newcomers
■ 73% veterans
■ 6% 1-2yr
■ 21% new
Entry-cohort mix of 33 holders: 24 (73%) are 2+ year veterans, 2 entered 1–2 years ago, and 7 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
14 of 33 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in DBE. 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 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.