Based on 262 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added AMR 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
262 hedge funds hold AMR 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 AMR is almost the same as a year ago (+7 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 53% buying
142 buying128 selling
Last quarter: 142 funds bought or added vs 128 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 (+6 vs last Q)
new funds entering per quarter
Funds opening a new AMR position: 48 → 30 → 53 → 59. 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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58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 22% medium
■ 20% new
151 out of 262 hedge funds have held AMR 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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Price up while funds trimmed (+10% value, -8% shares)
Last quarter: total value of institutional AMR holdings rose +10% even though funds reduced share count by 8%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
39 → 48 → 30 → 53 → 59 new funds/Q
New funds entering each quarter: 48 → 30 → 53 → 59. A growing number of institutions are discovering AMR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 63% of holders stayed 2+ years
■ 63% veterans
■ 15% 1-2yr
■ 22% new
Of 281 current holders: 176 (63%) 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.
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Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
36 of 262 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.