Based on 89 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their ASGI 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 (99% of max)
99% of all-time peak
89 hedge funds hold ASGI 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.
📶
Steady growth — +19% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 53% buying
48 buying42 selling
Last quarter: 48 funds bought or added vs 42 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.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 14 → 12 → 28 → 18. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 33% long-term, 39% new
■ 33% conviction (2yr+)
■ 28% medium
■ 39% new
Of the 89 current holders: 29 (33%) held >2 years, 25 held 1–2 years, and 35 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
🚀
Acceleration phase — new buyers rushing in
11 → 14 → 12 → 28 → 18 new funds/Q
New funds entering each quarter: 14 → 12 → 28 → 18. 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.
📊
Mixed cohorts — 38% veterans, 39% new entrants
■ 38% veterans
■ 22% 1-2yr
■ 39% new
Of 89 current holders: 34 (38%) held 2+ years, 20 held 1–2 years, 35 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 60% AUM from top-100 funds
60% from top-100 AUM funds
14 of 89 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in ASGI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.