Based on 90 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added AFB 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
90 hedge funds hold AFB 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.
📶
Steady growth — +18% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+18% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 61% buying
52 buying33 selling
Last quarter: 52 funds were net buyers (18 opened a brand new position + 34 added to an existing one). Only 33 were sellers (16 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~18 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 7 → 23 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 18% medium
■ 26% new
51 out of 90 hedge funds have held AFB 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.
🚀
Acceleration phase — new buyers rushing in
8 → 15 → 7 → 23 → 18 new funds/Q
New funds entering each quarter: 15 → 7 → 23 → 18. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Veteran-anchored — 62% veterans vs 32% newcomers
■ 62% veterans
■ 6% 1-2yr
■ 32% new
Entry-cohort mix of 90 holders: 56 (62%) are 2+ year veterans, 5 entered 1–2 years ago, and 29 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 12% AUM from top-100
12% from top-100 AUM funds
12 of 90 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.