Based on 105 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added TSBK 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
105 hedge funds hold TSBK 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 — +19% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+19% 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 — 52% buying
45 buying41 selling
Last quarter: 45 funds bought or added vs 41 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 — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 12 → 9 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 23% medium
■ 20% new
60 out of 105 hedge funds have held TSBK 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 — ~13 new funds/quarter
13 → 11 → 12 → 9 → 13 new funds/Q
New funds entering each quarter: 11 → 12 → 9 → 13. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 61% veterans vs 28% newcomers
■ 61% veterans
■ 11% 1-2yr
■ 28% new
Entry-cohort mix of 105 holders: 64 (61%) are 2+ year veterans, 12 entered 1–2 years ago, and 29 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
33 of 105 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.