Based on 128 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added FTXL 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.
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At the ownership peak (100% of max)
100% of all-time peak
128 hedge funds hold FTXL 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.
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Steady growth — +19% more funds vs a year ago
fund count last 6Q
+20 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 62% buying
72 buying44 selling
Last quarter: 72 funds were net buyers (33 opened a brand new position + 39 added to an existing one). Only 44 were sellers (30 trimmed + 14 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+18 vs last Q)
new funds entering per quarter
Funds opening a new FTXL position: 8 → 12 → 15 → 33. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 23% medium
■ 23% new
69 out of 128 hedge funds have held FTXL 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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Value +402% but shares only +333% — price-driven
Last quarter: the total dollar value of institutional holdings rose +402%, but actual share count only changed +333%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Acceleration phase — new buyers rushing in
18 → 8 → 12 → 15 → 33 new funds/Q
New funds entering each quarter: 8 → 12 → 15 → 33. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Deep conviction — 60% of holders stayed 2+ years
■ 60% veterans
■ 12% 1-2yr
■ 27% new
Of 129 current holders: 78 (60%) 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.
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Smaller funds dominant — 17% AUM from top-100
17% from top-100 AUM funds
12 of 128 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.