Based on 281 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BLBD 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
281 hedge funds hold BLBD 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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Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+49 new funds entered over the past year (+21% 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.
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Slight buying edge — 52% buying
147 buying137 selling
Last quarter: 147 funds bought or added vs 137 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.
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More new buyers each quarter (+21 vs last Q)
new funds entering per quarter
Funds opening a new BLBD position: 41 → 67 → 32 → 53. 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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43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 33% medium
■ 24% new
122 out of 281 hedge funds have held BLBD 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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Price up while funds trimmed (+11% value, -4% shares)
Last quarter: total value of institutional BLBD holdings rose +11% even though funds reduced share count by 4%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Peak discovery — momentum slowing
43 → 41 → 67 → 32 → 53 new funds/Q
New funds entering each quarter: 41 → 67 → 32 → 53. BLBD is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Veteran-anchored — 46% veterans vs 30% newcomers
■ 46% veterans
■ 24% 1-2yr
■ 30% new
Entry-cohort mix of 287 holders: 132 (46%) are 2+ year veterans, 70 entered 1–2 years ago, and 85 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
53 of 281 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in BLBD. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.