Based on 393 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added LEU 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
393 hedge funds hold LEU 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 — +97% more funds vs a year ago
fund count last 6Q
+194 new funds entered over the past year (+97% 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.
🟡
Slight buying edge — 54% buying
234 buying201 selling
Last quarter: 234 funds bought or added vs 201 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 (-43 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 46 → 120 → 129 → 86. 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 — 25% long-term, 47% new
■ 25% conviction (2yr+)
■ 28% medium
■ 47% new
Of the 393 current holders: 97 (25%) held >2 years, 112 held 1–2 years, and 184 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.
💎
Buying through price weakness — shares +6%, value -24%
Last quarter: funds added +6% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
81 → 46 → 120 → 129 → 86 new funds/Q
New funds entering each quarter: 46 → 120 → 129 → 86. A growing number of institutions are discovering LEU each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 56% of holders entered in last year
■ 34% veterans
■ 10% 1-2yr
■ 56% new
Of 421 current holders: 236 (56%) entered in the past year, only 144 (34%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
38 of 393 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.5
out of 10
Moderate Exit Risk
Exit risk score 5.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.