Based on 271 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ALG 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 (97% of max)
97% of all-time peak
271 hedge funds hold ALG 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding ALG is almost the same as a year ago (-6 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 58% buying
165 buying120 selling
Last quarter: 165 funds bought or added vs 120 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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More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new ALG position: 43 → 39 → 43 → 56. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 16% medium
■ 22% new
167 out of 271 hedge funds have held ALG 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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Buying through price weakness — shares +14%, value -1%
Last quarter: funds added +14% more shares while total portfolio value only changed -1%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
53 → 43 → 39 → 43 → 56 new funds/Q
New funds entering each quarter: 43 → 39 → 43 → 56. A growing number of institutions are discovering ALG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 68% veterans vs 22% newcomers
■ 68% veterans
■ 11% 1-2yr
■ 22% new
Entry-cohort mix of 274 holders: 185 (68%) are 2+ year veterans, 29 entered 1–2 years ago, and 60 (22%) 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
50 of 270 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in ALG. 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.