Based on 21 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their FCO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 84% of 3.0Y peak
84% of all-time peak
21 funds currently hold this stock — 84% of the 3.0-year high of 25 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +24% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+24% 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.
🔴
Heavy selling pressure — only 32% buying
8 buying17 selling
Last quarter: 17 funds sold vs only 8 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 4 → 8 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 5% medium
■ 33% new
13 out of 21 hedge funds have held FCO 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.
➡️
Steady discovery — ~4 new funds/quarter
2 → 6 → 4 → 8 → 4 new funds/Q
New funds entering each quarter: 6 → 4 → 8 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 62% of holders stayed 2+ years
■ 62% veterans
■ 5% 1-2yr
■ 33% new
Of 21 current holders: 13 (62%) 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.
📋
Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
5 of 21 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.