Based on 1615 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added F 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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At the ownership peak (100% of max)
100% of all-time peak
1,615 hedge funds hold F 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.
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Steady growth — +4% more funds vs a year ago
fund count last 6Q
+60 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 57% buying
888 buying681 selling
Last quarter: 888 funds bought or added vs 681 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.
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More new buyers each quarter (+67 vs last Q)
new funds entering per quarter
Funds opening a new F position: 152 → 148 → 166 → 233. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 15% medium
■ 14% new
1,147 out of 1,615 hedge funds have held F 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.
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Growing discovery — still being found
191 → 152 → 148 → 166 → 233 new funds/Q
New funds entering each quarter: 152 → 148 → 166 → 233. A growing number of institutions are discovering F each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 73% of holders stayed 2+ years
■ 73% veterans
■ 8% 1-2yr
■ 19% new
Of 1,690 current holders: 1,229 (73%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 58% AUM from top-100 funds
58% from top-100 AUM funds
44 of 1615 holders are among the 100 largest funds by AUM, controlling 58% of total institutional value in F. 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.