Based on 13 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added FCBD 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 — 87% of 1.8Y peak
87% of all-time peak
13 funds currently hold this stock — 87% of the 1.8-year high of 15 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold FCBD compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 46% buying
6 buying7 selling
Last quarter: 7 funds reduced or exited vs 6 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new FCBD position: 0 → 2 → 0 → 6. 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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Mostly new holders — 23% entered in last year
■ 0% conviction (2yr+)
■ 77% medium
■ 23% new
Only 0 funds (0%) 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 — ~6 new funds/quarter
4 → 0 → 2 → 0 → 6 new funds/Q
New funds entering each quarter: 0 → 2 → 0 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 0% veterans, 31% new entrants
■ 0% veterans
■ 69% 1-2yr
■ 31% new
Of 13 current holders: 0 (0%) held 2+ years, 9 held 1–2 years, 4 (31%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 50% AUM from top-100 funds
50% from top-100 AUM funds
3 of 13 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in FCBD. 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 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.