Based on 95 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 9 quarters in a row
For 9 consecutive quarters, more hedge funds added DVLT 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
95 hedge funds hold DVLT 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 — +280% more funds vs a year ago
fund count last 6Q
+70 new funds entered over the past year (+280% 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 — 60% buying
58 buying38 selling
Last quarter: 58 funds were net buyers (29 opened a brand new position + 29 added to an existing one). Only 38 were sellers (14 trimmed + 24 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 29 → 49 → 36 → 29. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 75% entered in last year
■ 3% conviction (2yr+)
■ 22% medium
■ 75% new
Only 3 funds (3%) 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.
💎
Buying through price weakness — shares +60%, value -10%
Last quarter: funds added +60% more shares while total portfolio value only changed -10%. 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
9 → 29 → 49 → 36 → 29 new funds/Q
New funds entering each quarter: 29 → 49 → 36 → 29. DVLT is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 86% of holders entered in last year
■ 0% veterans
■ 14% 1-2yr
■ 86% new
Of 95 current holders: 82 (86%) entered in the past year, only 0 (0%) 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.
✅
Strong quality — 37% AUM from major funds
37% from top-100 AUM funds
21 of 95 holders rank in the top 100 by AUM, accounting for 37% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.6
out of 10
Moderate Exit Risk
Exit risk score 6.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.