Based on 134 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added ATEX 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
134 hedge funds hold ATEX 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding ATEX is almost the same as a year ago (+3 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
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More buyers than sellers — 62% buying
84 buying52 selling
Last quarter: 84 funds were net buyers (39 opened a brand new position + 45 added to an existing one). Only 52 were sellers (31 trimmed + 21 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+14 vs last Q)
new funds entering per quarter
Funds opening a new ATEX position: 13 → 28 → 25 → 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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47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 19% medium
■ 34% new
63 out of 134 hedge funds have held ATEX 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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Value +90% but shares only +9% — price-driven
Last quarter: the total dollar value of institutional holdings rose +90%, but actual share count only changed +9%. 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.
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Acceleration phase — new buyers rushing in
32 → 13 → 28 → 25 → 39 new funds/Q
New funds entering each quarter: 13 → 28 → 25 → 39. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Veteran-anchored — 56% veterans vs 38% newcomers
■ 56% veterans
■ 6% 1-2yr
■ 38% new
Entry-cohort mix of 144 holders: 81 (56%) are 2+ year veterans, 9 entered 1–2 years ago, and 54 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 20% AUM from major funds
20% from top-100 AUM funds
32 of 132 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.