Based on 537 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added FTCS 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
537 hedge funds hold FTCS 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 — +6% more funds vs a year ago
fund count last 6Q
+30 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 37% buying
184 buying317 selling
Last quarter: 317 funds sold vs only 184 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-23 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 49 → 43 → 76 → 53. 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.
🔒
61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 23% medium
■ 17% new
325 out of 537 hedge funds have held FTCS 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
52 → 49 → 43 → 76 → 53 new funds/Q
New funds entering each quarter: 49 → 43 → 76 → 53. A growing number of institutions are discovering FTCS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 61% of holders stayed 2+ years
■ 61% veterans
■ 18% 1-2yr
■ 21% new
Of 537 current holders: 329 (61%) 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 — 47% AUM from top-100 funds
47% from top-100 AUM funds
26 of 537 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in FTCS. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.