Based on 116 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added FSP 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.
📊
High ownership — 92% of 3.0Y peak
92% of all-time peak
116 funds currently hold this stock — 92% of the 3.0-year high of 126 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding FSP is almost the same as a year ago (+1 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 55% buying
57 buying46 selling
Last quarter: 57 funds bought or added vs 46 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.
📈
More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new FSP position: 13 → 14 → 12 → 20. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 17% medium
■ 18% new
75 out of 116 hedge funds have held FSP 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.
💎
Buying through price weakness — shares +10%, value -25%
Last quarter: funds added +10% more shares while total portfolio value only changed -25%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
11 → 13 → 14 → 12 → 20 new funds/Q
New funds entering each quarter: 13 → 14 → 12 → 20. A growing number of institutions are discovering FSP each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 73% veterans vs 20% newcomers
■ 73% veterans
■ 8% 1-2yr
■ 20% new
Entry-cohort mix of 117 holders: 85 (73%) are 2+ year veterans, 9 entered 1–2 years ago, and 23 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
30 of 116 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.