Based on 13 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DGIN 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.
📊
High ownership — 87% of 3.0Y peak
87% of all-time peak
13 funds currently hold this stock — 87% of the 3.0-year high of 15 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 7% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold DGIN compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 90% buying
9 buying1 selling
Last quarter: 9 funds were net buyers (2 opened a brand new position + 7 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 0 → 1 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 15% new
■ 38% conviction (2yr+)
■ 46% medium
■ 15% new
Of the 13 current holders: 5 (38%) held >2 years, 6 held 1–2 years, and 2 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Value +69% but shares only +51% — price-driven
Last quarter: the total dollar value of institutional holdings rose +69%, but actual share count only changed +51%. 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.
📊
Peak discovery — momentum slowing
3 → 4 → 0 → 1 → 2 new funds/Q
New funds entering each quarter: 4 → 0 → 1 → 2. DGIN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 31% veterans, 31% new entrants
■ 31% veterans
■ 38% 1-2yr
■ 31% new
Of 13 current holders: 4 (31%) held 2+ years, 5 held 1–2 years, 4 (31%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 16% AUM from top-100
16% from top-100 AUM funds
4 of 13 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.