Based on 179 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their OBK positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (98% of max)
98% of all-time peak
179 hedge funds hold OBK 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 — +15% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 49% buying
87 buying89 selling
Last quarter: 89 funds reduced or exited vs 87 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 (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 31 → 18 → 27 → 19. 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
■ 16% new
109 out of 179 hedge funds have held OBK 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 — ~19 new funds/quarter
17 → 31 → 18 → 27 → 19 new funds/Q
New funds entering each quarter: 31 → 18 → 27 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 8% 1-2yr
■ 22% new
Of 180 current holders: 125 (69%) 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 — 44% AUM from top-100 funds
44% from top-100 AUM funds
33 of 179 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in OBK. 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.