Based on 268 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their LAC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
268 hedge funds hold LAC 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.
🚀
Fast accumulation — +24% more funds vs a year ago
fund count last 6Q
+52 new funds entered over the past year (+24% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡
Slight buying edge — 53% buying
148 buying130 selling
Last quarter: 148 funds bought or added vs 130 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️
Fewer new buyers each quarter (-33 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 21 → 66 → 91 → 58. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
49% of holders stayed for 2+ years
■ 49% conviction (2yr+)
■ 23% medium
■ 29% new
130 out of 268 hedge funds have held LAC 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.
💎
Buying through price weakness — shares +2%, value -100%
Last quarter: funds added +2% more shares while total portfolio value only changed -100%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
31 → 21 → 66 → 91 → 58 new funds/Q
New funds entering each quarter: 21 → 66 → 91 → 58. 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.
🏛️
Veteran-anchored — 57% veterans vs 30% newcomers
■ 57% veterans
■ 13% 1-2yr
■ 30% new
Entry-cohort mix of 286 holders: 163 (57%) are 2+ year veterans, 37 entered 1–2 years ago, and 86 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
34 of 264 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in LAC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.