Based on 15 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BRNS 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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High ownership — 79% of 3.0Y peak
79% of all-time peak
15 funds currently hold this stock — 79% of the 3.0-year high of 19 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Steady growth — +7% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 56% buying
5 buying4 selling
Last quarter: 5 funds bought or added vs 4 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.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 3 → 2 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 7% medium
■ 27% new
10 out of 15 hedge funds have held BRNS 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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Peak discovery — momentum slowing
0 → 4 → 3 → 2 → 3 new funds/Q
New funds entering each quarter: 4 → 3 → 2 → 3. BRNS 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 — 73% veterans vs 20% newcomers
■ 73% veterans
■ 7% 1-2yr
■ 20% new
Entry-cohort mix of 15 holders: 11 (73%) are 2+ year veterans, 1 entered 1–2 years ago, and 3 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
4 of 15 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.