Based on 136 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added FOCT 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
136 hedge funds hold FOCT 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.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 73% buying
90 buying33 selling
Last quarter: 90 funds were net buyers (36 opened a brand new position + 54 added to an existing one). Only 33 were sellers (26 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+28 vs last Q)
new funds entering per quarter
Funds opening a new FOCT position: 10 → 13 → 8 → 36. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 28% medium
■ 26% new
62 out of 136 hedge funds have held FOCT 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.
🚀
Acceleration phase — new buyers rushing in
36 → 10 → 13 → 8 → 36 new funds/Q
New funds entering each quarter: 10 → 13 → 8 → 36. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 46% of holders stayed 2+ years
■ 46% veterans
■ 19% 1-2yr
■ 35% new
Of 136 current holders: 62 (46%) 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.
✅
Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
8 of 136 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.