Based on 160 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ABSI 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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At the ownership peak (100% of max)
100% of all-time peak
160 hedge funds hold ABSI 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.
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Steady growth — +11% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 61% buying
94 buying60 selling
Last quarter: 94 funds were net buyers (39 opened a brand new position + 55 added to an existing one). Only 60 were sellers (41 trimmed + 19 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+19 vs last Q)
new funds entering per quarter
Funds opening a new ABSI position: 13 → 28 → 20 → 39. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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42% of holders stayed for 2+ years
■ 42% conviction (2yr+)
■ 30% medium
■ 28% new
67 out of 160 hedge funds have held ABSI 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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Growing discovery — still being found
39 → 13 → 28 → 20 → 39 new funds/Q
New funds entering each quarter: 13 → 28 → 20 → 39. A growing number of institutions are discovering ABSI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 47% veterans vs 29% newcomers
■ 47% veterans
■ 23% 1-2yr
■ 29% new
Entry-cohort mix of 167 holders: 79 (47%) are 2+ year veterans, 39 entered 1–2 years ago, and 49 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 43% AUM from top-100 funds
43% from top-100 AUM funds
44 of 160 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in ABSI. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.