Based on 129 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added FSBC 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
129 hedge funds hold FSBC 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 — +24% more funds vs a year ago
fund count last 6Q
+25 new funds entered over the past year (+24% 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 — 54% buying
63 buying54 selling
Last quarter: 63 funds bought or added vs 54 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 — ~20 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 13 → 17 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 29% medium
■ 27% new
57 out of 129 hedge funds have held FSBC 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.
📈
Growing discovery — still being found
19 → 19 → 13 → 17 → 20 new funds/Q
New funds entering each quarter: 19 → 13 → 17 → 20. A growing number of institutions are discovering FSBC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 48% veterans vs 35% newcomers
■ 48% veterans
■ 17% 1-2yr
■ 35% new
Entry-cohort mix of 130 holders: 62 (48%) are 2+ year veterans, 22 entered 1–2 years ago, and 46 (35%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 33% AUM from major funds
33% from top-100 AUM funds
36 of 129 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.