Based on 111 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added LTBR 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
111 hedge funds hold LTBR 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 — +158% more funds vs a year ago
fund count last 6Q
+68 new funds entered over the past year (+158% 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 buyers than sellers — 62% buying
73 buying44 selling
Last quarter: 73 funds were net buyers (26 opened a brand new position + 47 added to an existing one). Only 44 were sellers (24 trimmed + 20 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~26 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 20 → 42 → 31 → 26. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 25% long-term, 52% new
■ 25% conviction (2yr+)
■ 23% medium
■ 52% new
Of the 111 current holders: 28 (25%) held >2 years, 25 held 1–2 years, and 58 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 +3%, value -39%
Last quarter: funds added +3% more shares while total portfolio value only changed -39%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~26 new funds/quarter
19 → 20 → 42 → 31 → 26 new funds/Q
New funds entering each quarter: 20 → 42 → 31 → 26. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 59% of holders entered in last year
■ 36% veterans
■ 5% 1-2yr
■ 59% new
Of 117 current holders: 69 (59%) entered in the past year, only 42 (36%) 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.
🏆
Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
26 of 111 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in LTBR. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
5.8
out of 10
Moderate Exit Risk
Exit risk score 5.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.