Based on 15 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their DTRE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 79% of 3.0Y peak
79% of all-time peak
15 funds currently hold this stock — 79% of the 3.0-year high of 19 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 6% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold DTRE compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 64% buying
9 buying5 selling
Last quarter: 9 funds were net buyers (1 opened a brand new position + 8 added to an existing one). Only 5 were sellers (3 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 2 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 27% medium
■ 7% new
10 out of 15 hedge funds have held DTRE 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 +16%, value -6%
Last quarter: funds added +16% more shares while total portfolio value only changed -6%. 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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Peak discovery — momentum slowing
5 → 1 → 4 → 2 → 1 new funds/Q
New funds entering each quarter: 1 → 4 → 2 → 1. DTRE is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 80% veterans vs 13% newcomers
■ 80% veterans
■ 7% 1-2yr
■ 13% new
Entry-cohort mix of 15 holders: 12 (80%) are 2+ year veterans, 1 entered 1–2 years ago, and 2 (13%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 80% AUM from top-100 funds
80% from top-100 AUM funds
9 of 15 holders are among the 100 largest funds by AUM, controlling 80% of total institutional value in DTRE. 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 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.