Based on 138 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 BRCC 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 (95% of max)
95% of all-time peak
138 hedge funds hold BRCC 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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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold BRCC compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 62% buying
80 buying50 selling
Last quarter: 80 funds were net buyers (36 opened a brand new position + 44 added to an existing one). Only 50 were sellers (26 trimmed + 24 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+21 vs last Q)
new funds entering per quarter
Funds opening a new BRCC position: 11 → 32 → 15 → 36. 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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44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 27% medium
■ 29% new
61 out of 138 hedge funds have held BRCC 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 +2%, value -95%
Last quarter: funds added +2% more shares while total portfolio value only changed -95%. 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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Growing discovery — still being found
21 → 11 → 32 → 15 → 36 new funds/Q
New funds entering each quarter: 11 → 32 → 15 → 36. A growing number of institutions are discovering BRCC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 55% veterans vs 30% newcomers
■ 55% veterans
■ 15% 1-2yr
■ 30% new
Entry-cohort mix of 142 holders: 78 (55%) are 2+ year veterans, 22 entered 1–2 years ago, and 42 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
32 of 138 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.