Based on 113 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added FDD 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
113 hedge funds hold FDD 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 — +61% more funds vs a year ago
fund count last 6Q
+43 new funds entered over the past year (+61% 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 — 61% buying
70 buying44 selling
Last quarter: 70 funds were net buyers (17 opened a brand new position + 53 added to an existing one). Only 44 were sellers (31 trimmed + 13 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~17 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 34 → 14 → 17. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
48% of holders stayed for 2+ years
■ 48% conviction (2yr+)
■ 24% medium
■ 28% new
54 out of 113 hedge funds have held FDD 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.
📊
Peak discovery — momentum slowing
11 → 12 → 34 → 14 → 17 new funds/Q
New funds entering each quarter: 12 → 34 → 14 → 17. FDD is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 56% of holders stayed 2+ years
■ 56% veterans
■ 10% 1-2yr
■ 35% new
Of 113 current holders: 63 (56%) 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.
🏆
Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
13 of 113 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in FDD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.