Based on 549 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BUD 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
549 hedge funds hold BUD 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 — +12% more funds vs a year ago
fund count last 6Q
+57 new funds entered over the past year (+12% 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 — 54% buying
297 buying252 selling
Last quarter: 297 funds bought or added vs 252 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.
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Fewer new buyers each quarter (-14 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 80 → 67 → 114 → 100. 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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63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 16% medium
■ 20% new
347 out of 549 hedge funds have held BUD 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
93 → 80 → 67 → 114 → 100 new funds/Q
New funds entering each quarter: 80 → 67 → 114 → 100. A growing number of institutions are discovering BUD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 69% veterans vs 23% newcomers
■ 69% veterans
■ 8% 1-2yr
■ 23% new
Entry-cohort mix of 579 holders: 400 (69%) are 2+ year veterans, 45 entered 1–2 years ago, and 134 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 75% AUM from top-100 funds
75% from top-100 AUM funds
44 of 544 holders are among the 100 largest funds by AUM, controlling 75% of total institutional value in BUD. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.