Based on 147 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ALX 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
147 hedge funds hold ALX 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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Steady growth — +11% more funds vs a year ago
fund count last 6Q
+15 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 54% buying
74 buying63 selling
Last quarter: 74 funds bought or added vs 63 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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Steady new buyers — ~24 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 25 → 20 → 26 → 24. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 25% medium
■ 21% new
79 out of 147 hedge funds have held ALX 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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Growing discovery — still being found
21 → 25 → 20 → 26 → 24 new funds/Q
New funds entering each quarter: 25 → 20 → 26 → 24. A growing number of institutions are discovering ALX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 61% veterans vs 29% newcomers
■ 61% veterans
■ 11% 1-2yr
■ 29% new
Entry-cohort mix of 147 holders: 89 (61%) are 2+ year veterans, 16 entered 1–2 years ago, and 42 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 37% AUM from major funds
37% from top-100 AUM funds
39 of 147 holders rank in the top 100 by AUM, accounting for 37% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.