Based on 19 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their ALAR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 50% of 3.0Y high
50% of all-time peak
Only 19 funds hold ALAR today versus a peak of 38 funds at 2024 Q4 — just 50% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 34% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold ALAR compared to a year ago (-34% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 41% buying
7 buying10 selling
Last quarter: 10 funds reduced or exited vs 7 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 — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 4 → 3 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 32% long-term, 11% new
■ 32% conviction (2yr+)
■ 58% medium
■ 11% new
Of the 19 current holders: 6 (32%) held >2 years, 11 held 1–2 years, and 2 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.
💰
Price up while funds trimmed (-58% value, -85% shares)
Last quarter: total value of institutional ALAR holdings rose -58% even though funds reduced share count by 85%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
⚠️
Saturation — most institutions already know this story
5 → 8 → 4 → 3 → 2 new funds/Q
New funds entering each quarter: 8 → 4 → 3 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
📊
Mixed cohorts — 26% veterans, 11% new entrants
■ 26% veterans
■ 63% 1-2yr
■ 11% new
Of 19 current holders: 5 (26%) held 2+ years, 12 held 1–2 years, 2 (11%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
7 of 19 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in ALAR. 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 1.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.