Based on 125 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added TBBB 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
125 hedge funds hold TBBB 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.
🚀
Fast accumulation — +64% more funds vs a year ago
fund count last 6Q
+49 new funds entered over the past year (+64% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 64% buying
81 buying46 selling
Last quarter: 81 funds were net buyers (41 opened a brand new position + 40 added to an existing one). Only 46 were sellers (36 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+20 vs last Q)
new funds entering per quarter
Funds opening a new TBBB position: 37 → 22 → 21 → 41. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 43% entered in last year
■ 6% conviction (2yr+)
■ 51% medium
■ 43% new
Only 7 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +33% but shares only +7% — price-driven
Last quarter: the total dollar value of institutional holdings rose +33%, but actual share count only changed +7%. 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.
➡️
Steady discovery — ~41 new funds/quarter
15 → 37 → 22 → 21 → 41 new funds/Q
New funds entering each quarter: 37 → 22 → 21 → 41. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 4% veterans, 50% new entrants
■ 4% veterans
■ 46% 1-2yr
■ 50% new
Of 130 current holders: 5 (4%) held 2+ years, 60 held 1–2 years, 65 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
18 of 125 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in TBBB. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.