Based on 20 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their FTXG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 26% of 3.0Y high
26% of all-time peak
Only 20 funds hold FTXG today versus a peak of 77 funds at 2023 Q1 — just 26% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold FTXG compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 50% buying
11 buying11 selling
Last quarter: 11 funds bought or added vs 11 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 5 → 3 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 20% medium
■ 25% new
11 out of 20 hedge funds have held FTXG 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.
➡️
Steady discovery — ~5 new funds/quarter
5 → 3 → 5 → 3 → 5 new funds/Q
New funds entering each quarter: 3 → 5 → 3 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 0% 1-2yr
■ 35% new
Of 20 current holders: 13 (65%) 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 — 40% AUM from top-100 funds
40% from top-100 AUM funds
7 of 20 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in FTXG. 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 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.