Based on 226 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DBMF 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
226 hedge funds hold DBMF 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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Fast accumulation — +28% more funds vs a year ago
fund count last 6Q
+49 new funds entered over the past year (+28% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 69% buying
159 buying72 selling
Last quarter: 159 funds were net buyers (64 opened a brand new position + 95 added to an existing one). Only 72 were sellers (56 trimmed + 16 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+40 vs last Q)
new funds entering per quarter
Funds opening a new DBMF position: 31 → 24 → 24 → 64. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mixed — 34% long-term, 34% new
■ 34% conviction (2yr+)
■ 33% medium
■ 34% new
Of the 226 current holders: 76 (34%) held >2 years, 74 held 1–2 years, and 76 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Acceleration phase — new buyers rushing in
48 → 31 → 24 → 24 → 64 new funds/Q
New funds entering each quarter: 31 → 24 → 24 → 64. 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.
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Mixed cohorts — 37% veterans, 45% new entrants
■ 37% veterans
■ 18% 1-2yr
■ 45% new
Of 227 current holders: 85 (37%) held 2+ years, 40 held 1–2 years, 102 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
15 of 226 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in DBMF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.