Based on 297 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added FRME 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
297 hedge funds hold FRME 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 — +12% more funds vs a year ago
fund count last 6Q
+31 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 63% buying
179 buying105 selling
Last quarter: 179 funds were net buyers (54 opened a brand new position + 125 added to an existing one). Only 105 were sellers (71 trimmed + 34 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+21 vs last Q)
new funds entering per quarter
Funds opening a new FRME position: 39 → 32 → 33 → 54. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 19% medium
■ 19% new
185 out of 297 hedge funds have held FRME 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 -23%, value -42%
Last quarter: funds added -23% more shares while total portfolio value only changed -42%. 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
41 → 39 → 32 → 33 → 54 new funds/Q
New funds entering each quarter: 39 → 32 → 33 → 54. A growing number of institutions are discovering FRME each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 68% veterans vs 22% newcomers
■ 68% veterans
■ 10% 1-2yr
■ 22% new
Entry-cohort mix of 298 holders: 203 (68%) are 2+ year veterans, 29 entered 1–2 years ago, and 66 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
51 of 296 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in FRME. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.