Based on 218 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 10 quarters in a row
For 10 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
218 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 — +57% more funds vs a year ago
fund count last 6Q
+79 new funds entered over the past year (+57% 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.
🟡
Slight buying edge — 57% buying
122 buying91 selling
Last quarter: 122 funds bought or added vs 91 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.
➡️
Steady new buyers — ~37 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 39 → 30 → 40 → 37. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 36% entered in last year
■ 24% conviction (2yr+)
■ 40% medium
■ 36% new
Only 53 funds (24%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📈
Growing discovery — still being found
30 → 39 → 30 → 40 → 37 new funds/Q
New funds entering each quarter: 39 → 30 → 40 → 37. A growing number of institutions are discovering FELG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 26% veterans, 54% new entrants
■ 26% veterans
■ 20% 1-2yr
■ 54% new
Of 218 current holders: 57 (26%) held 2+ years, 44 held 1–2 years, 117 (54%) 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
17 of 217 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.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.