Based on 49 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 8 quarters in a row
For 8 consecutive quarters, more hedge funds added AFRI 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
49 hedge funds hold AFRI 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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Fast accumulation — +32% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+32% 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.
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Slight buying edge — 57% buying
24 buying18 selling
Last quarter: 24 funds bought or added vs 18 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 — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 7 → 4 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 35% medium
■ 22% new
21 out of 49 hedge funds have held AFRI 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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Peak discovery — momentum slowing
4 → 9 → 7 → 4 → 6 new funds/Q
New funds entering each quarter: 9 → 7 → 4 → 6. AFRI is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Veteran-anchored — 47% veterans vs 33% newcomers
■ 47% veterans
■ 20% 1-2yr
■ 33% new
Entry-cohort mix of 49 holders: 23 (47%) are 2+ year veterans, 10 entered 1–2 years ago, and 16 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
20 of 49 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in AFRI. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.