Based on 12 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their DHLGY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 63% of 3.0Y high
63% of all-time peak
Only 12 funds hold DHLGY today versus a peak of 19 funds at 2023 Q2 — just 63% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📶
Steady growth — +20% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 69% buying
11 buying5 selling
Last quarter: 11 funds were net buyers (0 opened a brand new position + 11 added to an existing one). Only 5 were sellers (1 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 5 → 2 → 6 → 0. 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.
🔒
42% of holders stayed for 2+ years
■ 42% conviction (2yr+)
■ 42% medium
■ 17% new
5 out of 12 hedge funds have held DHLGY 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.
💎
Buying through price weakness — shares +35%, value -45%
Last quarter: funds added +35% more shares while total portfolio value only changed -45%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~0 new funds/quarter
2 → 5 → 2 → 6 → 0 new funds/Q
New funds entering each quarter: 5 → 2 → 6 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 50% of holders stayed 2+ years
■ 50% veterans
■ 8% 1-2yr
■ 42% new
Of 12 current holders: 6 (50%) 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.
📋
Smaller funds dominant — 13% AUM from top-100
13% from top-100 AUM funds
2 of 12 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.