Based on 4 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added OBOR 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.
🔻
Below peak — only 57% of 3.0Y high
57% of all-time peak
Only 4 funds hold OBOR today versus a peak of 7 funds at 2023 Q4 — just 57% 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.
📉
Outflows — 43% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold OBOR compared to a year ago (-43% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 67% buying
2 buying1 selling
Last quarter: 2 funds were net buyers (2 opened a brand new position + 0 added to an existing one). Only 1 were sellers (0 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 0 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
100% of holders stayed for 2+ years
■ 100% conviction (2yr+)
■ 0% medium
■ 0% new
4 out of 4 hedge funds have held OBOR 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 — ~2 new funds/quarter
1 → 1 → 0 → 0 → 2 new funds/Q
New funds entering each quarter: 1 → 0 → 0 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 100% of holders stayed 2+ years
■ 100% veterans
■ 0% 1-2yr
■ 0% new
Of 4 current holders: 4 (100%) 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 — 100% AUM from top-100 funds
100% from top-100 AUM funds
4 of 4 holders are among the 100 largest funds by AUM, controlling 100% of total institutional value in OBOR. 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.