Based on 11 hedge funds · latest filing: 2026 Q2 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🔻
Below peak — only 65% of 3.0Y high
65% of all-time peak
Only 11 funds hold ADRNY today versus a peak of 17 funds at 2023 Q4 — just 65% 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 — 8% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold ADRNY compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 67% buying
6 buying3 selling
Last quarter: 6 funds were net buyers (1 opened a brand new position + 5 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 2 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
73% of holders stayed for 2+ years
■ 73% conviction (2yr+)
■ 0% medium
■ 27% new
8 out of 11 hedge funds have held ADRNY 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.
📊
Peak discovery — momentum slowing
0 → 1 → 3 → 2 → 1 new funds/Q
New funds entering each quarter: 1 → 3 → 2 → 1. ADRNY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 64% veterans vs 27% newcomers
■ 64% veterans
■ 9% 1-2yr
■ 27% new
Entry-cohort mix of 11 holders: 7 (64%) are 2+ year veterans, 1 entered 1–2 years ago, and 3 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 19% AUM from top-100
19% from top-100 AUM funds
2 of 11 holders rank in the top 100 by AUM, but together hold only 19% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.