Based on 739 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their FOXA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
739 hedge funds hold FOXA 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 — +11% more funds vs a year ago
fund count last 6Q
+75 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 45% buying
344 buying427 selling
Last quarter: 427 funds reduced or exited vs 344 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-35 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 115 → 93 → 136 → 101. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 23% medium
■ 18% new
437 out of 739 hedge funds have held FOXA 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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Buying through price weakness — shares -4%, value -27%
Last quarter: funds added -4% more shares while total portfolio value only changed -27%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
132 → 115 → 93 → 136 → 101 new funds/Q
New funds entering each quarter: 115 → 93 → 136 → 101. A growing number of institutions are discovering FOXA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 65% veterans vs 24% newcomers
■ 65% veterans
■ 11% 1-2yr
■ 24% new
Entry-cohort mix of 751 holders: 488 (65%) are 2+ year veterans, 80 entered 1–2 years ago, and 183 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
60 of 736 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in FOXA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.