Based on 73 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added FDHY 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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At the ownership peak (100% of max)
100% of all-time peak
73 hedge funds hold FDHY 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.
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Steady growth — +20% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 58% buying
39 buying28 selling
Last quarter: 39 funds bought or added vs 28 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 6 → 12 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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48% of holders stayed for 2+ years
■ 48% conviction (2yr+)
■ 32% medium
■ 21% new
35 out of 73 hedge funds have held FDHY 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.
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Steady discovery — ~10 new funds/quarter
6 → 9 → 6 → 12 → 10 new funds/Q
New funds entering each quarter: 9 → 6 → 12 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 53% of holders stayed 2+ years
■ 53% veterans
■ 21% 1-2yr
■ 26% new
Of 73 current holders: 39 (53%) 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.
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Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
11 of 73 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in FDHY. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.