Based on 118 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added LAW 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
118 hedge funds hold LAW 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.
🚀
Fast accumulation — +31% more funds vs a year ago
fund count last 6Q
+28 new funds entered over the past year (+31% 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
70 buying42 selling
Last quarter: 70 funds were net buyers (20 opened a brand new position + 50 added to an existing one). Only 42 were sellers (30 trimmed + 12 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~20 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 16 → 20 → 21 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 23% medium
■ 26% new
60 out of 118 hedge funds have held LAW 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.
💰
Value +27% but shares only +6% — price-driven
Last quarter: the total dollar value of institutional holdings rose +27%, but actual share count only changed +6%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈
Growing discovery — still being found
18 → 16 → 20 → 21 → 20 new funds/Q
New funds entering each quarter: 16 → 20 → 21 → 20. A growing number of institutions are discovering LAW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 64% of holders stayed 2+ years
■ 64% veterans
■ 7% 1-2yr
■ 30% new
Of 118 current holders: 75 (64%) 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.
📋
Smaller funds dominant — 17% AUM from top-100
17% from top-100 AUM funds
26 of 118 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.