Based on 101 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 DRLL 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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High ownership — 86% of 3.0Y peak
86% of all-time peak
101 funds currently hold this stock — 86% of the 3.0-year high of 118 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 6% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold DRLL compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 57% buying
40 buying30 selling
Last quarter: 40 funds bought or added vs 30 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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Steady new buyers — ~18 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 11 → 13 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 27% medium
■ 20% new
54 out of 101 hedge funds have held DRLL 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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Price up while funds trimmed (-27% value, -45% shares)
Last quarter: total value of institutional DRLL holdings rose -27% even though funds reduced share count by 45%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
11 → 12 → 11 → 13 → 18 new funds/Q
New funds entering each quarter: 12 → 11 → 13 → 18. A growing number of institutions are discovering DRLL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 55% veterans vs 23% newcomers
■ 55% veterans
■ 22% 1-2yr
■ 23% new
Entry-cohort mix of 101 holders: 56 (55%) are 2+ year veterans, 22 entered 1–2 years ago, and 23 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
13 of 101 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.