Based on 13 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added AUST 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
13 hedge funds hold AUST 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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Fast accumulation — +30% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+30% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 62% buying
8 buying5 selling
Last quarter: 8 funds were net buyers (6 opened a brand new position + 2 added to an existing one). Only 5 were sellers (3 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 2 → 2 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 31% entered in last year
■ 23% conviction (2yr+)
■ 46% medium
■ 31% new
Only 3 funds (23%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
➡️
Steady discovery — ~6 new funds/quarter
4 → 4 → 2 → 2 → 6 new funds/Q
New funds entering each quarter: 4 → 2 → 2 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 38% veterans, 38% new entrants
■ 38% veterans
■ 23% 1-2yr
■ 38% new
Of 13 current holders: 5 (38%) held 2+ years, 3 held 1–2 years, 5 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
3 of 13 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in AUST. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.