Based on 813 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 AMLP 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
813 hedge funds hold AMLP 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 — +12% more funds vs a year ago
fund count last 6Q
+84 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 61% buying
462 buying301 selling
Last quarter: 462 funds were net buyers (115 opened a brand new position + 347 added to an existing one). Only 301 were sellers (224 trimmed + 77 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new AMLP position: 74 → 69 → 107 → 115. 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+)
■ 21% medium
■ 17% new
504 out of 813 hedge funds have held AMLP 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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Acceleration phase — new buyers rushing in
88 → 74 → 69 → 107 → 115 new funds/Q
New funds entering each quarter: 74 → 69 → 107 → 115. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Veteran-anchored — 65% veterans vs 20% newcomers
■ 65% veterans
■ 15% 1-2yr
■ 20% new
Entry-cohort mix of 821 holders: 536 (65%) are 2+ year veterans, 122 entered 1–2 years ago, and 163 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
28 of 808 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in AMLP. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.