Based on 5 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added DRAG 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 — 83% of 1.8Y peak
83% of all-time peak
5 funds currently hold this stock — 83% of the 1.8-year high of 6 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 17% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold DRAG compared to a year ago (-17% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 33% buying
1 buying2 selling
Last quarter: 2 funds sold vs only 1 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 1 → 2 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 20% entered in last year
■ 20% conviction (2yr+)
■ 60% medium
■ 20% new
Only 1 funds (20%) 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.
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Buying through price weakness — shares +15%, value -7%
Last quarter: funds added +15% more shares while total portfolio value only changed -7%. 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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Steady discovery — ~1 new funds/quarter
3 → 0 → 1 → 2 → 1 new funds/Q
New funds entering each quarter: 0 → 1 → 2 → 1. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 0% veterans, 40% new entrants
■ 0% veterans
■ 60% 1-2yr
■ 40% new
Of 5 current holders: 0 (0%) held 2+ years, 3 held 1–2 years, 2 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 87% AUM from top-100 funds
87% from top-100 AUM funds
3 of 5 holders are among the 100 largest funds by AUM, controlling 87% of total institutional value in DRAG. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.