Based on 20 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their AIRE 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 — 83% of 2.2Y peak
83% of all-time peak
20 funds currently hold this stock — 83% of the 2.2-year high of 24 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +33% more funds vs a year ago
fund count last 6Q
+5 new funds entered over the past year (+33% 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.
🟢
More buyers than sellers — 60% buying
12 buying8 selling
Last quarter: 12 funds were net buyers (3 opened a brand new position + 9 added to an existing one). Only 8 were sellers (1 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 4 → 8 → 10 → 3. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 25% long-term, 30% new
■ 25% conviction (2yr+)
■ 45% medium
■ 30% new
Of the 20 current holders: 5 (25%) held >2 years, 9 held 1–2 years, and 6 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares +59%, value -13%
Last quarter: funds added +59% more shares while total portfolio value only changed -13%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
2 → 4 → 8 → 10 → 3 new funds/Q
New funds entering each quarter: 4 → 8 → 10 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 0% veterans, 35% new entrants
■ 0% veterans
■ 65% 1-2yr
■ 35% new
Of 20 current holders: 0 (0%) held 2+ years, 13 held 1–2 years, 7 (35%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 77% AUM from top-100 funds
77% from top-100 AUM funds
7 of 20 holders are among the 100 largest funds by AUM, controlling 77% of total institutional value in AIRE. 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.