Based on 17 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added FTHF 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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At the ownership peak (100% of max)
100% of all-time peak
17 hedge funds hold FTHF right now — the highest count in 2.5 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.
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Fast accumulation — +467% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+467% 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.
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More buyers than sellers — 82% buying
14 buying3 selling
Last quarter: 14 funds were net buyers (9 opened a brand new position + 5 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 1 → 7 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 82% entered in last year
■ 6% conviction (2yr+)
■ 12% medium
■ 82% new
Only 1 funds (6%) 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.
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Value +418% but shares only +359% — price-driven
Last quarter: the total dollar value of institutional holdings rose +418%, but actual share count only changed +359%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~9 new funds/quarter
0 → 0 → 1 → 7 → 9 new funds/Q
New funds entering each quarter: 0 → 1 → 7 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 82% of holders entered in last year
■ 6% veterans
■ 12% 1-2yr
■ 82% new
Of 17 current holders: 14 (82%) entered in the past year, only 1 (6%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Elite ownership — 62% AUM from top-100 funds
62% from top-100 AUM funds
5 of 17 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in FTHF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 7.1/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.