Based on 40 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DTI 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 — 77% of 3.0Y peak
77% of all-time peak
40 funds currently hold this stock — 77% of the 3.0-year high of 52 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold DTI compared to a year ago (-15% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 61% buying
22 buying14 selling
Last quarter: 22 funds were net buyers (10 opened a brand new position + 12 added to an existing one). Only 14 were sellers (8 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 7 → 8 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 32% entered in last year
■ 18% conviction (2yr+)
■ 50% medium
■ 32% new
Only 7 funds (18%) 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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Steady discovery — ~10 new funds/quarter
12 → 9 → 7 → 8 → 10 new funds/Q
New funds entering each quarter: 9 → 7 → 8 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 57% of holders entered in last year
■ 18% veterans
■ 25% 1-2yr
■ 57% new
Of 40 current holders: 23 (57%) entered in the past year, only 7 (18%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Smaller funds dominant — 19% AUM from top-100
19% from top-100 AUM funds
13 of 40 holders rank in the top 100 by AUM, but together hold only 19% 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.