Based on 170 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added DNUT 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 (99% of max)
99% of all-time peak
170 hedge funds hold DNUT 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding DNUT is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 44% buying
81 buying104 selling
Last quarter: 104 funds reduced or exited vs 81 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.
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Steady new buyers — ~39 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 45 → 33 → 34 → 39. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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45% of holders stayed for 2+ years
■ 45% conviction (2yr+)
■ 31% medium
■ 24% new
77 out of 170 hedge funds have held DNUT 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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Buying through price weakness — shares -5%, value -21%
Last quarter: funds added -5% more shares while total portfolio value only changed -21%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~39 new funds/quarter
40 → 45 → 33 → 34 → 39 new funds/Q
New funds entering each quarter: 45 → 33 → 34 → 39. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 58% veterans vs 28% newcomers
■ 58% veterans
■ 14% 1-2yr
■ 28% new
Entry-cohort mix of 181 holders: 105 (58%) are 2+ year veterans, 26 entered 1–2 years ago, and 50 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 53% AUM from top-100 funds
53% from top-100 AUM funds
39 of 170 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in DNUT. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.