Based on 133 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 DENN 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 — 90% of 3.0Y peak
90% of all-time peak
133 funds currently hold this stock — 90% of the 3.0-year high of 147 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 — 9% fewer funds vs a year ago
fund count last 6Q
13 fewer hedge funds hold DENN compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 43% buying
64 buying86 selling
Last quarter: 86 funds reduced or exited vs 64 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 (+14 vs last Q)
new funds entering per quarter
Funds opening a new DENN position: 26 → 19 → 21 → 35. 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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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 19% medium
■ 21% new
80 out of 133 hedge funds have held DENN 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 (+17% value, -2% shares)
Last quarter: total value of institutional DENN holdings rose +17% even though funds reduced share count by 2%. 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
19 → 26 → 19 → 21 → 35 new funds/Q
New funds entering each quarter: 26 → 19 → 21 → 35. A growing number of institutions are discovering DENN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 9% 1-2yr
■ 21% new
Of 140 current holders: 97 (69%) 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.
✅
Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
28 of 133 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.