Based on 103 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DMAY 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
103 hedge funds hold DMAY 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 — +20% more funds vs a year ago
fund count last 6Q
+17 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.
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More buyers than sellers — 71% buying
64 buying26 selling
Last quarter: 64 funds were net buyers (29 opened a brand new position + 35 added to an existing one). Only 26 were sellers (22 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+25 vs last Q)
new funds entering per quarter
Funds opening a new DMAY position: 10 → 11 → 4 → 29. 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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44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 26% medium
■ 30% new
45 out of 103 hedge funds have held DMAY 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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Acceleration phase — new buyers rushing in
19 → 10 → 11 → 4 → 29 new funds/Q
New funds entering each quarter: 10 → 11 → 4 → 29. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Veteran-anchored — 42% veterans vs 37% newcomers
■ 42% veterans
■ 21% 1-2yr
■ 37% new
Entry-cohort mix of 103 holders: 43 (42%) are 2+ year veterans, 22 entered 1–2 years ago, and 38 (37%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 14% AUM from top-100
14% from top-100 AUM funds
7 of 103 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.