Based on 298 hedge funds · latest filing: 2025 Q4 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🏔️
At the ownership peak (98% of max)
98% of all-time peak
298 hedge funds hold DRS 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 — +28% more funds vs a year ago
fund count last 6Q
+65 new funds entered over the past year (+28% 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 — 54% buying
180 buying151 selling
Last quarter: 180 funds bought or added vs 151 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.
➡️
Steady new buyers — ~58 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 46 → 96 → 58 → 58. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 34% long-term, 33% new
■ 34% conviction (2yr+)
■ 33% medium
■ 33% new
Of the 298 current holders: 102 (34%) held >2 years, 99 held 1–2 years, and 97 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.
💎
Buying through price weakness — shares +1%, value -23%
Last quarter: funds added +1% more shares while total portfolio value only changed -23%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
51 → 46 → 96 → 58 → 58 new funds/Q
New funds entering each quarter: 46 → 96 → 58 → 58. DRS 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 — 39% veterans, 42% new entrants
■ 39% veterans
■ 19% 1-2yr
■ 42% new
Of 307 current holders: 119 (39%) held 2+ years, 59 held 1–2 years, 129 (42%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
39 of 298 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in DRS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.