Based on 404 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added BPOP 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
404 hedge funds hold BPOP 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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Steady growth — +20% more funds vs a year ago
fund count last 6Q
+68 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More sellers than buyers — 49% buying
199 buying206 selling
Last quarter: 206 funds reduced or exited vs 199 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.
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Fewer new buyers each quarter (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 54 → 71 → 72 → 59. 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.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 17% medium
■ 21% new
252 out of 404 hedge funds have held BPOP 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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Steady discovery — ~59 new funds/quarter
48 → 54 → 71 → 72 → 59 new funds/Q
New funds entering each quarter: 54 → 71 → 72 → 59. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 10% 1-2yr
■ 23% new
Of 411 current holders: 276 (67%) 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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Elite ownership — 56% AUM from top-100 funds
56% from top-100 AUM funds
44 of 404 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in BPOP. 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.