Based on 1233 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DD 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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High ownership — 90% of 3.0Y peak
90% of all-time peak
1,233 funds currently hold this stock — 90% of the 3.0-year high of 1,370 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
131 fewer hedge funds hold DD compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 55% buying
620 buying511 selling
Last quarter: 620 funds bought or added vs 511 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 (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 110 → 146 → 160 → 152. 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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73% of holders stayed for 2+ years
■ 73% conviction (2yr+)
■ 15% medium
■ 13% new
897 out of 1,233 hedge funds have held DD 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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Price up while funds trimmed (+6% value, -10% shares)
Last quarter: total value of institutional DD holdings rose +6% even though funds reduced share count by 10%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
116 → 110 → 146 → 160 → 152 new funds/Q
New funds entering each quarter: 110 → 146 → 160 → 152. A growing number of institutions are discovering DD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 75% of holders stayed 2+ years
■ 75% veterans
■ 10% 1-2yr
■ 15% new
Of 1,262 current holders: 951 (75%) 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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Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
65 of 1233 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in DD. 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.