Based on 107 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds reduced or closed their ASTL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 81% of 3.0Y peak
81% of all-time peak
107 funds currently hold this stock — 81% of the 3.0-year high of 132 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 19% fewer funds vs a year ago
fund count last 6Q
25 fewer hedge funds hold ASTL compared to a year ago (-19% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 50% buying
67 buying66 selling
Last quarter: 67 funds bought or added vs 66 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.
➡️
Steady new buyers — ~22 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 21 → 23 → 23 → 22. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 25% medium
■ 20% new
59 out of 107 hedge funds have held ASTL 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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Buying through price weakness — shares +8%, value -62%
Last quarter: funds added +8% more shares while total portfolio value only changed -62%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~22 new funds/quarter
22 → 21 → 23 → 23 → 22 new funds/Q
New funds entering each quarter: 21 → 23 → 23 → 22. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 11% 1-2yr
■ 21% new
Of 128 current holders: 87 (68%) 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 — 98% AUM from top-100 funds
98% from top-100 AUM funds
20 of 107 holders are among the 100 largest funds by AUM, controlling 98% of total institutional value in ASTL. 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 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.