Based on 624 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added BURL 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
624 hedge funds hold BURL 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.
📶
Steady growth — +16% more funds vs a year ago
fund count last 6Q
+88 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 60% buying
388 buying257 selling
Last quarter: 388 funds were net buyers (135 opened a brand new position + 253 added to an existing one). Only 257 were sellers (184 trimmed + 73 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+39 vs last Q)
new funds entering per quarter
Funds opening a new BURL position: 51 → 83 → 96 → 135. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 17% medium
■ 24% new
371 out of 624 hedge funds have held BURL 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.
🚀
Acceleration phase — new buyers rushing in
72 → 51 → 83 → 96 → 135 new funds/Q
New funds entering each quarter: 51 → 83 → 96 → 135. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Veteran-anchored — 65% veterans vs 25% newcomers
■ 65% veterans
■ 10% 1-2yr
■ 25% new
Entry-cohort mix of 654 holders: 425 (65%) are 2+ year veterans, 68 entered 1–2 years ago, and 161 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 54% AUM from top-100 funds
54% from top-100 AUM funds
66 of 618 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in BURL. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.