Based on 47 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added AAPR 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 — 90% of 1.8Y peak
90% of all-time peak
47 funds currently hold this stock — 90% of the 1.8-year high of 52 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 — 10% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold AAPR compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 46% buying
13 buying15 selling
Last quarter: 15 funds reduced or exited vs 13 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.
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Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 0 → 7 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 17% entered in last year
■ 0% conviction (2yr+)
■ 83% medium
■ 17% 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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Steady discovery — ~4 new funds/quarter
14 → 4 → 0 → 7 → 4 new funds/Q
New funds entering each quarter: 4 → 0 → 7 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 0% veterans, 32% new entrants
■ 0% veterans
■ 68% 1-2yr
■ 32% new
Of 47 current holders: 0 (0%) held 2+ years, 32 held 1–2 years, 15 (32%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 7% AUM from top-100
7% from top-100 AUM funds
5 of 47 holders rank in the top 100 by AUM, but together hold only 7% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.