Based on 65 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added OBIL 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
65 hedge funds hold OBIL 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.
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Steady growth — +12% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 57% buying
35 buying26 selling
Last quarter: 35 funds bought or added vs 26 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.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 7 → 9 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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40% of holders stayed for 2+ years
■ 40% conviction (2yr+)
■ 40% medium
■ 20% new
26 out of 65 hedge funds have held OBIL 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.
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Steady discovery — ~10 new funds/quarter
9 → 10 → 7 → 9 → 10 new funds/Q
New funds entering each quarter: 10 → 7 → 9 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 40% veterans vs 28% newcomers
■ 40% veterans
■ 32% 1-2yr
■ 28% new
Entry-cohort mix of 65 holders: 26 (40%) are 2+ year veterans, 21 entered 1–2 years ago, and 18 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 54% AUM from top-100 funds
54% from top-100 AUM funds
9 of 65 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in OBIL. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.