Based on 154 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 10 quarters in a row
For 10 consecutive quarters, more hedge funds added DGICA 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
154 hedge funds hold DGICA 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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Steady growth — +13% more funds vs a year ago
fund count last 6Q
+18 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More sellers than buyers — 47% buying
65 buying72 selling
Last quarter: 72 funds reduced or exited vs 65 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 (+10 vs last Q)
new funds entering per quarter
Funds opening a new DGICA position: 26 → 29 → 14 → 24. 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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49% of holders stayed for 2+ years
■ 49% conviction (2yr+)
■ 27% medium
■ 24% new
75 out of 154 hedge funds have held DGICA 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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Buying through price weakness — shares -1%, value -20%
Last quarter: funds added -1% more shares while total portfolio value only changed -20%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
23 → 26 → 29 → 14 → 24 new funds/Q
New funds entering each quarter: 26 → 29 → 14 → 24. DGICA is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Veteran-anchored — 57% veterans vs 32% newcomers
■ 57% veterans
■ 11% 1-2yr
■ 32% new
Entry-cohort mix of 154 holders: 88 (57%) are 2+ year veterans, 17 entered 1–2 years ago, and 49 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
38 of 153 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in DGICA. 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.