Based on 41 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added FDEV 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
41 hedge funds hold FDEV 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 — +116% more funds vs a year ago
fund count last 6Q
+22 new funds entered over the past year (+116% 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 — 67% buying
31 buying15 selling
Last quarter: 31 funds were net buyers (11 opened a brand new position + 20 added to an existing one). Only 15 were sellers (8 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 4 → 8 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 37% long-term, 39% new
■ 37% conviction (2yr+)
■ 24% medium
■ 39% new
Of the 41 current holders: 15 (37%) held >2 years, 10 held 1–2 years, and 16 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~11 new funds/quarter
6 → 15 → 4 → 8 → 11 new funds/Q
New funds entering each quarter: 15 → 4 → 8 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 56% of holders entered in last year
■ 37% veterans
■ 7% 1-2yr
■ 56% new
Of 41 current holders: 23 (56%) entered in the past year, only 15 (37%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
10 of 40 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.