Based on 44 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their FBLG 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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Below peak — only 68% of 3.0Y high
68% of all-time peak
Only 44 funds hold FBLG today versus a peak of 65 funds at 2025 Q1 — just 68% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 28% fewer funds vs a year ago
fund count last 6Q
17 fewer hedge funds hold FBLG compared to a year ago (-28% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 39% buying
14 buying22 selling
Last quarter: 22 funds sold vs only 14 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 14 → 12 → 6. 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.
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Buying through price weakness — shares -18%, value -70%
Last quarter: funds added -18% more shares while total portfolio value only changed -70%. 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
7 → 10 → 14 → 12 → 6 new funds/Q
New funds entering each quarter: 10 → 14 → 12 → 6. FBLG is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.