Based on 34 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added APRT 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.
📊
High ownership — 87% of 3.0Y peak
87% of all-time peak
34 funds currently hold this stock — 87% of the 3.0-year high of 39 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 13% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold APRT compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 62% buying
18 buying11 selling
Last quarter: 18 funds were net buyers (6 opened a brand new position + 12 added to an existing one). Only 11 were sellers (10 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 7 → 1 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 21% medium
■ 12% new
23 out of 34 hedge funds have held APRT 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.
➡️
Steady discovery — ~6 new funds/quarter
8 → 0 → 7 → 1 → 6 new funds/Q
New funds entering each quarter: 0 → 7 → 1 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 65% veterans vs 15% newcomers
■ 65% veterans
■ 21% 1-2yr
■ 15% new
Entry-cohort mix of 34 holders: 22 (65%) are 2+ year veterans, 7 entered 1–2 years ago, and 5 (15%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
3 of 34 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.