Based on 289 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 ADUS 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 (99% of max)
99% of all-time peak
289 hedge funds hold ADUS 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding ADUS is almost the same as a year ago (+2 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 56% buying
162 buying128 selling
Last quarter: 162 funds bought or added vs 128 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 (+15 vs last Q)
new funds entering per quarter
Funds opening a new ADUS position: 49 → 38 → 34 → 49. 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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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 18% medium
■ 20% new
177 out of 289 hedge funds have held ADUS 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 — ~49 new funds/quarter
35 → 49 → 38 → 34 → 49 new funds/Q
New funds entering each quarter: 49 → 38 → 34 → 49. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 66% of holders stayed 2+ years
■ 66% veterans
■ 11% 1-2yr
■ 23% new
Of 292 current holders: 192 (66%) 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 — 46% AUM from top-100 funds
46% from top-100 AUM funds
39 of 289 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in ADUS. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.