Based on 10 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added LOT 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.
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Below peak — only 48% of 2.0Y high
48% of all-time peak
Only 10 funds hold LOT today versus a peak of 21 funds at 2024 Q4 — just 48% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 52% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold LOT compared to a year ago (-52% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 75% buying
6 buying2 selling
Last quarter: 6 funds were net buyers (2 opened a brand new position + 4 added to an existing one). Only 2 were sellers (1 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 5 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 30% entered in last year
■ 0% conviction (2yr+)
■ 70% medium
■ 30% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares +2%, value -19%
Last quarter: funds added +2% more shares while total portfolio value only changed -19%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
14 → 2 → 5 → 2 → 2 new funds/Q
New funds entering each quarter: 2 → 5 → 2 → 2. 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.
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Mixed cohorts — 0% veterans, 30% new entrants
■ 0% veterans
■ 70% 1-2yr
■ 30% new
Of 10 current holders: 0 (0%) held 2+ years, 7 held 1–2 years, 3 (30%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
5 of 10 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.