Based on 75 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added FRAF 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
75 hedge funds hold FRAF 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 — +121% more funds vs a year ago
fund count last 6Q
+41 new funds entered over the past year (+121% 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.
🟢
More buyers than sellers — 70% buying
47 buying20 selling
Last quarter: 47 funds were net buyers (11 opened a brand new position + 36 added to an existing one). Only 20 were sellers (16 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 13 → 15 → 22 → 11. 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.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 19% medium
■ 35% new
35 out of 75 hedge funds have held FRAF 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.
💎
Buying through price weakness — shares +1053%, value +626%
Last quarter: funds added +1053% more shares while total portfolio value only changed +626%. 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
2 → 13 → 15 → 22 → 11 new funds/Q
New funds entering each quarter: 13 → 15 → 22 → 11. A growing number of institutions are discovering FRAF each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 59% of holders stayed 2+ years
■ 59% veterans
■ 3% 1-2yr
■ 39% new
Of 75 current holders: 44 (59%) 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.
🏆
Elite ownership — 91% AUM from top-100 funds
91% from top-100 AUM funds
24 of 75 holders are among the 100 largest funds by AUM, controlling 91% of total institutional value in FRAF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
5.2
out of 10
Moderate Exit Risk
Exit risk score 5.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.