Based on 106 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 FC 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 — 79% of 3.0Y peak
79% of all-time peak
106 funds currently hold this stock — 79% of the 3.0-year high of 135 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 18% fewer funds vs a year ago
fund count last 6Q
24 fewer hedge funds hold FC compared to a year ago (-18% 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 — 53% buying
59 buying52 selling
Last quarter: 59 funds bought or added vs 52 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 — ~20 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 19 → 15 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 21% medium
■ 20% new
63 out of 106 hedge funds have held FC 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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Steady discovery — ~20 new funds/quarter
23 → 15 → 19 → 15 → 20 new funds/Q
New funds entering each quarter: 15 → 19 → 15 → 20. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 63% veterans vs 25% newcomers
■ 63% veterans
■ 12% 1-2yr
■ 25% new
Entry-cohort mix of 106 holders: 67 (63%) are 2+ year veterans, 13 entered 1–2 years ago, and 26 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
34 of 106 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.