Based on 85 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added ALLW 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 (100% of max)
100% of all-time peak
85 hedge funds hold ALLW right now — the highest count in 1.0 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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More buyers than sellers — 91% buying
75 buying7 selling
Last quarter: 75 funds were net buyers (37 opened a brand new position + 38 added to an existing one). Only 7 were sellers (4 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+12 vs last Q)
new funds entering per quarter
Funds opening a new ALLW position: 28 → 25 → 37. 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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Mostly new holders — 93% entered in last year
■ 0% conviction (2yr+)
■ 7% medium
■ 93% new
Only 0 funds (0%) 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.
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Growing discovery — still being found
28 → 25 → 37 new funds/Q
New funds entering each quarter: 28 → 25 → 37. A growing number of institutions are discovering ALLW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Early stage — 100% of holders entered in last year
■ 0% veterans
■ 0% 1-2yr
■ 100% new
Of 85 current holders: 85 (100%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
5 of 85 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 7.3/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.