Based on 65 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DECW 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
65 hedge funds hold DECW 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 — +7% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+7% 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 — 51% buying
37 buying36 selling
Last quarter: 37 funds bought or added vs 36 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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More new buyers each quarter (+15 vs last Q)
new funds entering per quarter
Funds opening a new DECW position: 10 → 7 → 5 → 20. 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 — 32% long-term, 26% new
■ 32% conviction (2yr+)
■ 42% medium
■ 26% new
Of the 65 current holders: 21 (32%) held >2 years, 27 held 1–2 years, and 17 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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Growing discovery — still being found
34 → 10 → 7 → 5 → 20 new funds/Q
New funds entering each quarter: 10 → 7 → 5 → 20. A growing number of institutions are discovering DECW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Early stage — 55% of holders entered in last year
■ 34% veterans
■ 11% 1-2yr
■ 55% new
Of 65 current holders: 36 (55%) entered in the past year, only 22 (34%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
4 of 65 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.