Based on 332 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their FTDR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 93% of 3.0Y peak
93% of all-time peak
332 funds currently hold this stock — 93% of the 3.0-year high of 358 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding FTDR is almost the same as a year ago (+10 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 47% buying
171 buying195 selling
Last quarter: 195 funds reduced or exited vs 171 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 (-15 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 54 → 80 → 56 → 41. 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.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 25% medium
■ 17% new
192 out of 332 hedge funds have held FTDR 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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Peak discovery — momentum slowing
46 → 54 → 80 → 56 → 41 new funds/Q
New funds entering each quarter: 54 → 80 → 56 → 41. FTDR is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 62% of holders stayed 2+ years
■ 62% veterans
■ 14% 1-2yr
■ 23% new
Of 333 current holders: 207 (62%) 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 — 42% AUM from top-100 funds
42% from top-100 AUM funds
41 of 332 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in FTDR. 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.