Based on 26 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added FLSW 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
26 hedge funds hold FLSW 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 — +18% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+18% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 64% buying
16 buying9 selling
Last quarter: 16 funds were net buyers (11 opened a brand new position + 5 added to an existing one). Only 9 were sellers (3 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new FLSW position: 3 → 4 → 3 → 11. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 27% medium
■ 27% new
12 out of 26 hedge funds have held FLSW 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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Growing discovery — still being found
7 → 3 → 4 → 3 → 11 new funds/Q
New funds entering each quarter: 3 → 4 → 3 → 11. A growing number of institutions are discovering FLSW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 62% veterans vs 27% newcomers
■ 62% veterans
■ 12% 1-2yr
■ 27% new
Entry-cohort mix of 26 holders: 16 (62%) are 2+ year veterans, 3 entered 1–2 years ago, and 7 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
10 of 26 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.