Based on 80 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DMBS 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
80 hedge funds hold DMBS 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 — +51% more funds vs a year ago
fund count last 6Q
+27 new funds entered over the past year (+51% 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.
🟢
More buyers than sellers — 78% buying
62 buying17 selling
Last quarter: 62 funds were net buyers (20 opened a brand new position + 42 added to an existing one). Only 17 were sellers (14 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new DMBS position: 18 → 13 → 10 → 20. 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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Mostly new holders — 38% entered in last year
■ 16% conviction (2yr+)
■ 46% medium
■ 38% new
Only 13 funds (16%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
➡️
Steady discovery — ~20 new funds/quarter
9 → 18 → 13 → 10 → 20 new funds/Q
New funds entering each quarter: 18 → 13 → 10 → 20. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 8% veterans, 50% new entrants
■ 8% veterans
■ 42% 1-2yr
■ 50% new
Of 80 current holders: 6 (8%) held 2+ years, 34 held 1–2 years, 40 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 12% AUM from top-100
12% from top-100 AUM funds
6 of 80 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.