Based on 82 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added FXNC 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
82 hedge funds hold FXNC 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 — +91% more funds vs a year ago
fund count last 6Q
+39 new funds entered over the past year (+91% 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 — 65% buying
46 buying25 selling
Last quarter: 46 funds were net buyers (23 opened a brand new position + 23 added to an existing one). Only 25 were sellers (18 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+14 vs last Q)
new funds entering per quarter
Funds opening a new FXNC position: 22 → 11 → 9 → 23. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 32% long-term, 37% new
■ 32% conviction (2yr+)
■ 32% medium
■ 37% new
Of the 82 current holders: 26 (32%) held >2 years, 26 held 1–2 years, and 30 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.
➡️
Steady discovery — ~23 new funds/quarter
4 → 22 → 11 → 9 → 23 new funds/Q
New funds entering each quarter: 22 → 11 → 9 → 23. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 38% veterans, 51% new entrants
■ 38% veterans
■ 11% 1-2yr
■ 51% new
Of 82 current holders: 31 (38%) held 2+ years, 9 held 1–2 years, 42 (51%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
26 of 82 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.