Based on 7 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their AAPB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 64% of 3.0Y high
64% of all-time peak
Only 7 funds hold AAPB today versus a peak of 11 funds at 2024 Q4 — just 64% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
🚀
Fast accumulation — +40% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+40% 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 sellers than buyers — 45% buying
5 buying6 selling
Last quarter: 6 funds reduced or exited vs 5 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 4 → 6 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 29% long-term, 43% new
■ 29% conviction (2yr+)
■ 29% medium
■ 43% new
Of the 7 current holders: 2 (29%) held >2 years, 2 held 1–2 years, and 3 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.
💰
Price up while funds trimmed (-5% value, -25% shares)
Last quarter: total value of institutional AAPB holdings rose -5% even though funds reduced share count by 25%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
1 → 5 → 4 → 6 → 1 new funds/Q
New funds entering each quarter: 5 → 4 → 6 → 1. AAPB is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 12% veterans, 38% new entrants
■ 12% veterans
■ 50% 1-2yr
■ 38% new
Of 8 current holders: 1 (12%) held 2+ years, 4 held 1–2 years, 3 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
3 of 7 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in AAPB. 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 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.