Based on 104 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BLE 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
104 hedge funds hold BLE 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BLE is almost the same as a year ago (+2 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
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More buyers than sellers — 63% buying
59 buying34 selling
Last quarter: 59 funds were net buyers (20 opened a brand new position + 39 added to an existing one). Only 34 were sellers (26 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new BLE position: 8 → 11 → 11 → 20. 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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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 18% medium
■ 21% new
63 out of 104 hedge funds have held BLE 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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Buying through price weakness — shares -23%, value -96%
Last quarter: funds added -23% more shares while total portfolio value only changed -96%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
19 → 8 → 11 → 11 → 20 new funds/Q
New funds entering each quarter: 8 → 11 → 11 → 20. 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 — 63% of holders stayed 2+ years
■ 63% veterans
■ 11% 1-2yr
■ 26% new
Of 104 current holders: 66 (63%) 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
20 of 104 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.