Based on 638 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ALC 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
638 hedge funds hold ALC 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding ALC is almost the same as a year ago (+16 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 50% buying
307 buying308 selling
Last quarter: 307 funds bought or added vs 308 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.
📈
More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new ALC position: 84 → 77 → 85 → 92. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 20% medium
■ 17% new
401 out of 638 hedge funds have held ALC 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.
➡️
Steady discovery — ~92 new funds/quarter
74 → 84 → 77 → 85 → 92 new funds/Q
New funds entering each quarter: 84 → 77 → 85 → 92. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 12% 1-2yr
■ 22% new
Of 669 current holders: 446 (67%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆
Elite ownership — 51% AUM from top-100 funds
51% from top-100 AUM funds
40 of 638 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in ALC. 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.