Based on 81 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their LU positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 68% of 3.0Y high
68% of all-time peak
Only 81 funds hold LU today versus a peak of 119 funds at 2024 Q1 — just 68% 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.
📉
Outflows — 20% fewer funds vs a year ago
fund count last 6Q
20 fewer hedge funds hold LU compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 43% buying
38 buying51 selling
Last quarter: 51 funds reduced or exited vs 38 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.
➡️
Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 17 → 12 → 12 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 30% medium
■ 14% new
46 out of 81 hedge funds have held LU 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.
💎
Buying through price weakness — shares -5%, value -69%
Last quarter: funds added -5% more shares while total portfolio value only changed -69%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
13 → 17 → 12 → 12 → 12 new funds/Q
New funds entering each quarter: 17 → 12 → 12 → 12. LU is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 38% veterans, 11% new entrants
■ 38% veterans
■ 51% 1-2yr
■ 11% new
Of 87 current holders: 33 (38%) held 2+ years, 44 held 1–2 years, 10 (11%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 43% AUM from top-100 funds
43% from top-100 AUM funds
27 of 81 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in LU. 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 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.