Based on 76 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added FDEM 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
76 hedge funds hold FDEM 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.
🚀
Fast accumulation — +100% more funds vs a year ago
fund count last 6Q
+38 new funds entered over the past year (+100% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 68% buying
54 buying25 selling
Last quarter: 54 funds were net buyers (14 opened a brand new position + 40 added to an existing one). Only 25 were sellers (17 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 14 → 11 → 26 → 14. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 47% entered in last year
■ 18% conviction (2yr+)
■ 34% medium
■ 47% new
Only 14 funds (18%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📈
Growing discovery — still being found
6 → 14 → 11 → 26 → 14 new funds/Q
New funds entering each quarter: 14 → 11 → 26 → 14. A growing number of institutions are discovering FDEM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 26% veterans, 51% new entrants
■ 26% veterans
■ 22% 1-2yr
■ 51% new
Of 76 current holders: 20 (26%) held 2+ years, 17 held 1–2 years, 39 (51%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
11 of 75 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
5.5
out of 10
Moderate Exit Risk
Exit risk score 5.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.