Based on 94 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added LCTD 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
94 hedge funds hold LCTD 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 — +6% more funds vs a year ago
fund count last 6Q
+5 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 33% buying
33 buying68 selling
Last quarter: 68 funds sold vs only 33 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~16 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 11 → 13 → 16. 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+)
■ 27% medium
■ 22% new
48 out of 94 hedge funds have held LCTD 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.
💎
Buying through price weakness — shares +65%, value +28%
Last quarter: funds added +65% more shares while total portfolio value only changed +28%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
18 → 11 → 11 → 13 → 16 new funds/Q
New funds entering each quarter: 11 → 11 → 13 → 16. A growing number of institutions are discovering LCTD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 47% of holders stayed 2+ years
■ 47% veterans
■ 18% 1-2yr
■ 35% new
Of 94 current holders: 44 (47%) 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 — 71% AUM from top-100 funds
71% from top-100 AUM funds
12 of 94 holders are among the 100 largest funds by AUM, controlling 71% of total institutional value in LCTD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.