Based on 70 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their LNSR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 92% of 3.0Y peak
92% of all-time peak
70 funds currently hold this stock — 92% of the 3.0-year high of 76 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +75% more funds vs a year ago
fund count last 6Q
+30 new funds entered over the past year (+75% 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 sellers than buyers — 47% buying
31 buying35 selling
Last quarter: 35 funds reduced or exited vs 31 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 29 → 26 → 14 → 4. 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 — 31% long-term, 27% new
■ 31% conviction (2yr+)
■ 41% medium
■ 27% new
Of the 70 current holders: 22 (31%) held >2 years, 29 held 1–2 years, and 19 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.
⚠️
Saturation — most institutions already know this story
6 → 29 → 26 → 14 → 4 new funds/Q
New funds entering each quarter: 29 → 26 → 14 → 4. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 44% of holders stayed 2+ years
■ 44% veterans
■ 10% 1-2yr
■ 47% new
Of 73 current holders: 32 (44%) 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.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
21 of 70 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.