Based on 249 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added FELG 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
249 hedge funds hold FELG 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 — +46% more funds vs a year ago
fund count last 6Q
+78 new funds entered over the past year (+46% 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 — 70% buying
157 buying66 selling
Last quarter: 157 funds were net buyers (45 opened a brand new position + 112 added to an existing one). Only 66 were sellers (52 trimmed + 14 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new FELG position: 30 → 40 → 37 → 45. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 27% long-term, 36% new
■ 27% conviction (2yr+)
■ 38% medium
■ 36% new
Of the 249 current holders: 66 (27%) held >2 years, 94 held 1–2 years, and 89 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.
💰
Value +30% but shares only +11% — price-driven
Last quarter: the total dollar value of institutional holdings rose +30%, but actual share count only changed +11%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈
Growing discovery — still being found
40 → 30 → 40 → 37 → 45 new funds/Q
New funds entering each quarter: 30 → 40 → 37 → 45. A growing number of institutions are discovering FELG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 25% veterans, 49% new entrants
■ 25% veterans
■ 26% 1-2yr
■ 49% new
Of 249 current holders: 62 (25%) held 2+ years, 65 held 1–2 years, 122 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
21 of 249 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.