Based on 100 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 10 quarters in a row
For 10 consecutive quarters, more hedge funds added FLRT 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
100 hedge funds hold FLRT 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
+17 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 — 57% buying
60 buying45 selling
Last quarter: 60 funds bought or added vs 45 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 — ~17 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 15 → 17 → 17. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 26% long-term, 27% new
■ 26% conviction (2yr+)
■ 47% medium
■ 27% new
Of the 100 current holders: 26 (26%) held >2 years, 47 held 1–2 years, and 27 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.
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Growing discovery — still being found
15 → 15 → 15 → 17 → 17 new funds/Q
New funds entering each quarter: 15 → 15 → 17 → 17. A growing number of institutions are discovering FLRT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 29% veterans, 39% new entrants
■ 29% veterans
■ 32% 1-2yr
■ 39% new
Of 100 current holders: 29 (29%) held 2+ years, 32 held 1–2 years, 39 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
8 of 100 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.