Based on 58 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their BUFT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 91% of 3.0Y peak
91% of all-time peak
58 funds currently hold this stock — 91% of the 3.0-year high of 64 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding BUFT is almost the same as a year ago (-2 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 42% buying
22 buying30 selling
Last quarter: 30 funds reduced or exited vs 22 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.
➡️
Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 12 → 5 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 22% medium
■ 22% new
32 out of 58 hedge funds have held BUFT 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.
➡️
Steady discovery — ~10 new funds/quarter
8 → 5 → 12 → 5 → 10 new funds/Q
New funds entering each quarter: 5 → 12 → 5 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 59% veterans vs 24% newcomers
■ 59% veterans
■ 17% 1-2yr
■ 24% new
Entry-cohort mix of 58 holders: 34 (59%) are 2+ year veterans, 10 entered 1–2 years ago, and 14 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
3 of 58 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.