Based on 153 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added DLO 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
153 hedge funds hold DLO 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.
🚀
Fast accumulation — +55% more funds vs a year ago
fund count last 6Q
+54 new funds entered over the past year (+55% 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. The peak was reached in just 4 quarters from the low — a sharp move.
🟠
More sellers than buyers — 49% buying
85 buying89 selling
Last quarter: 89 funds reduced or exited vs 85 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~39 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 37 → 41 → 37 → 39. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
42% of holders stayed for 2+ years
■ 42% conviction (2yr+)
■ 25% medium
■ 33% new
64 out of 153 hedge funds have held DLO 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.
➡️
Steady discovery — ~39 new funds/quarter
15 → 37 → 41 → 37 → 39 new funds/Q
New funds entering each quarter: 37 → 41 → 37 → 39. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 51% veterans vs 36% newcomers
■ 51% veterans
■ 12% 1-2yr
■ 36% new
Entry-cohort mix of 162 holders: 83 (51%) are 2+ year veterans, 20 entered 1–2 years ago, and 59 (36%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
29 of 152 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.