Based on 87 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added BSBR 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
87 hedge funds hold BSBR 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 — +13% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 64% buying
56 buying32 selling
Last quarter: 56 funds were net buyers (17 opened a brand new position + 39 added to an existing one). Only 32 were sellers (18 trimmed + 14 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~17 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 17 → 20 → 17. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 21% medium
■ 17% new
54 out of 87 hedge funds have held BSBR 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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Growing discovery — still being found
23 → 15 → 17 → 20 → 17 new funds/Q
New funds entering each quarter: 15 → 17 → 20 → 17. A growing number of institutions are discovering BSBR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 72% of holders stayed 2+ years
■ 72% veterans
■ 7% 1-2yr
■ 21% new
Of 89 current holders: 64 (72%) 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 — 1% AUM from top-100
1% from top-100 AUM funds
22 of 87 holders rank in the top 100 by AUM, but together hold only 1% 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.