Based on 27 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their AHT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 87% of 3.0Y peak
87% of all-time peak
27 funds currently hold this stock — 87% of the 3.0-year high of 31 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold AHT compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 48% buying
10 buying11 selling
Last quarter: 11 funds reduced or exited vs 10 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 — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 5 → 6 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 33% entered in last year
■ 7% conviction (2yr+)
■ 59% medium
■ 33% new
Only 2 funds (7%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares -10%, value -43%
Last quarter: funds added -10% more shares while total portfolio value only changed -43%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~4 new funds/quarter
2 → 4 → 5 → 6 → 4 new funds/Q
New funds entering each quarter: 4 → 5 → 6 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 7% veterans, 37% new entrants
■ 7% veterans
■ 56% 1-2yr
■ 37% new
Of 27 current holders: 2 (7%) held 2+ years, 15 held 1–2 years, 10 (37%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 16% AUM from top-100
16% from top-100 AUM funds
9 of 27 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.