Based on 92 hedge funds · latest filing: 2024 Q3 · updated quarterly
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No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
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High ownership — 86% of 2.8Y peak
86% of all-time peak
92 funds currently hold this stock — 86% of the 2.8-year high of 107 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 11% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold LLAP compared to a year ago (-11% 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 — 52% buying
45 buying41 selling
Last quarter: 45 funds bought or added vs 41 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.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new LLAP position: 12 → 23 → 13 → 19. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Buying through price weakness — shares +11%, value -60%
Last quarter: funds added +11% more shares while total portfolio value only changed -60%. 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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Steady discovery — ~19 new funds/quarter
30 → 12 → 23 → 13 → 19 new funds/Q
New funds entering each quarter: 12 → 23 → 13 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.