Based on 791 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added DPZ 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
791 hedge funds hold DPZ 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 — +8% more funds vs a year ago
fund count last 6Q
+57 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 55% buying
453 buying368 selling
Last quarter: 453 funds bought or added vs 368 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new DPZ position: 112 → 99 → 120 → 127. 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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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 19% medium
■ 19% new
489 out of 791 hedge funds have held DPZ 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 +4%, value -14%
Last quarter: funds added +4% more shares while total portfolio value only changed -14%. 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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Growing discovery — still being found
119 → 112 → 99 → 120 → 127 new funds/Q
New funds entering each quarter: 112 → 99 → 120 → 127. A growing number of institutions are discovering DPZ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 67% veterans vs 23% newcomers
■ 67% veterans
■ 10% 1-2yr
■ 23% new
Entry-cohort mix of 819 holders: 547 (67%) are 2+ year veterans, 84 entered 1–2 years ago, and 188 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
64 of 789 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in DPZ. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.