Based on 95 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their DLY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (98% of max)
98% of all-time peak
95 hedge funds hold DLY 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.
🚀
Fast accumulation — +36% more funds vs a year ago
fund count last 6Q
+25 new funds entered over the past year (+36% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡
Slight buying edge — 52% buying
45 buying41 selling
Last quarter: 45 funds bought or added vs 41 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.
⚠️
Fewer new buyers each quarter (-11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 14 → 19 → 22 → 11. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
45% of holders stayed for 2+ years
■ 45% conviction (2yr+)
■ 25% medium
■ 29% new
43 out of 95 hedge funds have held DLY 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.
💎
Buying through price weakness — shares +7%, value -12%
Last quarter: funds added +7% more shares while total portfolio value only changed -12%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~11 new funds/quarter
8 → 14 → 19 → 22 → 11 new funds/Q
New funds entering each quarter: 14 → 19 → 22 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 49% veterans vs 33% newcomers
■ 49% veterans
■ 18% 1-2yr
■ 33% new
Entry-cohort mix of 95 holders: 47 (49%) are 2+ year veterans, 17 entered 1–2 years ago, and 31 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 62% AUM from top-100 funds
62% from top-100 AUM funds
11 of 95 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in DLY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.