Based on 292 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ABR 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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High ownership — 88% of 3.0Y peak
88% of all-time peak
292 funds currently hold this stock — 88% of the 3.0-year high of 330 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
34 fewer hedge funds hold ABR compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 50% buying
158 buying159 selling
Last quarter: 158 funds bought or added vs 159 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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More new buyers each quarter (+12 vs last Q)
new funds entering per quarter
Funds opening a new ABR position: 44 → 33 → 44 → 56. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 18% medium
■ 18% new
184 out of 292 hedge funds have held ABR 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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Buying through price weakness — shares +6%, value -33%
Last quarter: funds added +6% more shares while total portfolio value only changed -33%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
45 → 44 → 33 → 44 → 56 new funds/Q
New funds entering each quarter: 44 → 33 → 44 → 56. A growing number of institutions are discovering ABR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 11% 1-2yr
■ 21% new
Of 313 current holders: 213 (68%) 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.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
31 of 292 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in ABR. 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.