Based on 96 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added FXF 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
96 hedge funds hold FXF 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 — +134% more funds vs a year ago
fund count last 6Q
+55 new funds entered over the past year (+134% 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 — 67% buying
56 buying27 selling
Last quarter: 56 funds were net buyers (23 opened a brand new position + 33 added to an existing one). Only 27 were sellers (17 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~23 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 41 → 14 → 18 → 23. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 33% long-term, 35% new
■ 33% conviction (2yr+)
■ 31% medium
■ 35% new
Of the 96 current holders: 32 (33%) held >2 years, 30 held 1–2 years, and 34 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📊
Peak discovery — momentum slowing
7 → 41 → 14 → 18 → 23 new funds/Q
New funds entering each quarter: 41 → 14 → 18 → 23. FXF is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 46% of holders stayed 2+ years
■ 46% veterans
■ 4% 1-2yr
■ 50% new
Of 100 current holders: 46 (46%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
15 of 96 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.