Based on 40 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 57% of 3.0Y high
57% of all-time peak
Only 40 funds hold ALTL today versus a peak of 70 funds at 2023 Q3 — just 57% 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 — 5% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold ALTL compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 37% buying
15 buying26 selling
Last quarter: 26 funds sold vs only 15 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 6 → 2 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
72% of holders stayed for 2+ years
■ 72% conviction (2yr+)
■ 8% medium
■ 20% new
29 out of 40 hedge funds have held ALTL 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.
💰
Value +20% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +20%, but actual share count only changed +3%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📊
Peak discovery — momentum slowing
5 → 6 → 6 → 2 → 7 new funds/Q
New funds entering each quarter: 6 → 6 → 2 → 7. ALTL 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 — 78% veterans vs 18% newcomers
■ 78% veterans
■ 5% 1-2yr
■ 18% new
Entry-cohort mix of 40 holders: 31 (78%) are 2+ year veterans, 2 entered 1–2 years ago, and 7 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
10 of 39 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.