Based on 131 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 DBI 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 — 71% of 3.0Y peak
71% of all-time peak
131 funds currently hold this stock — 71% of the 3.0-year high of 184 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
20 fewer hedge funds hold DBI compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 53% buying
71 buying64 selling
Last quarter: 71 funds bought or added vs 64 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 (+9 vs last Q)
new funds entering per quarter
Funds opening a new DBI position: 26 → 13 → 19 → 28. 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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71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 16% medium
■ 13% new
93 out of 131 hedge funds have held DBI 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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Price up while funds trimmed (+108% value, -1% shares)
Last quarter: total value of institutional DBI holdings rose +108% even though funds reduced share count by 1%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
28 → 26 → 13 → 19 → 28 new funds/Q
New funds entering each quarter: 26 → 13 → 19 → 28. A growing number of institutions are discovering DBI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 78% of holders stayed 2+ years
■ 78% veterans
■ 9% 1-2yr
■ 13% new
Of 139 current holders: 109 (78%) 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 — 40% AUM from top-100 funds
40% from top-100 AUM funds
29 of 131 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in DBI. 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 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.