Based on 312 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their APLE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
312 hedge funds hold APLE 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding APLE is almost the same as a year ago (-6 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 51% buying
168 buying159 selling
Last quarter: 168 funds bought or added vs 159 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.
📈
More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new APLE position: 48 → 53 → 36 → 47. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 20% medium
■ 16% new
202 out of 312 hedge funds have held APLE 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.
📊
Peak discovery — momentum slowing
52 → 48 → 53 → 36 → 47 new funds/Q
New funds entering each quarter: 48 → 53 → 36 → 47. APLE is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 70% of holders stayed 2+ years
■ 70% veterans
■ 9% 1-2yr
■ 21% new
Of 317 current holders: 222 (70%) 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.
🏆
Elite ownership — 54% AUM from top-100 funds
54% from top-100 AUM funds
41 of 312 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in APLE. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.