Based on 171 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 10 quarters in a row
For 10 consecutive quarters, more hedge funds added DFGP 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
171 hedge funds hold DFGP 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 — +54% more funds vs a year ago
fund count last 6Q
+60 new funds entered over the past year (+54% 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.
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More buyers than sellers — 79% buying
138 buying36 selling
Last quarter: 138 funds were net buyers (32 opened a brand new position + 106 added to an existing one). Only 36 were sellers (18 trimmed + 18 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~32 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 25 → 24 → 34 → 32. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 40% entered in last year
■ 16% conviction (2yr+)
■ 44% medium
■ 40% new
Only 27 funds (16%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Growing discovery — still being found
20 → 25 → 24 → 34 → 32 new funds/Q
New funds entering each quarter: 25 → 24 → 34 → 32. A growing number of institutions are discovering DFGP each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 8% veterans, 54% new entrants
■ 8% veterans
■ 37% 1-2yr
■ 54% new
Of 171 current holders: 14 (8%) held 2+ years, 64 held 1–2 years, 93 (54%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
9 of 171 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.