Based on 19 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 LQDI 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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High ownership — 83% of 3.0Y peak
83% of all-time peak
19 funds currently hold this stock — 83% of the 3.0-year high of 23 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 17% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold LQDI compared to a year ago (-17% 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 — 59% buying
10 buying7 selling
Last quarter: 10 funds bought or added vs 7 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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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 5 → 1 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 32% medium
■ 5% new
12 out of 19 hedge funds have held LQDI 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.
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Saturation — most institutions already know this story
5 → 3 → 5 → 1 → 2 new funds/Q
New funds entering each quarter: 3 → 5 → 1 → 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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Deep conviction — 74% of holders stayed 2+ years
■ 74% veterans
■ 16% 1-2yr
■ 11% new
Of 19 current holders: 14 (74%) 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.
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Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
4 of 19 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in LQDI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.