Based on 43 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their FLRG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 93% of 3.0Y peak
93% of all-time peak
43 funds currently hold this stock — 93% of the 3.0-year high of 46 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +48% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+48% 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.
🟡
Slight buying edge — 52% buying
23 buying21 selling
Last quarter: 23 funds bought or added vs 21 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.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 13 → 4 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 35% entered in last year
■ 21% conviction (2yr+)
■ 44% medium
■ 35% new
Only 9 funds (21%) 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.
⚠️
Saturation — most institutions already know this story
10 → 11 → 13 → 4 → 7 new funds/Q
New funds entering each quarter: 11 → 13 → 4 → 7. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
📊
Mixed cohorts — 26% veterans, 49% new entrants
■ 26% veterans
■ 26% 1-2yr
■ 49% new
Of 43 current holders: 11 (26%) held 2+ years, 11 held 1–2 years, 21 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
9 of 43 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.