Based on 32 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added LVO 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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Below peak — only 46% of 3.0Y high
46% of all-time peak
Only 32 funds hold LVO today versus a peak of 69 funds at 2024 Q3 — just 46% 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.
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Outflows — 52% fewer funds vs a year ago
fund count last 6Q
35 fewer hedge funds hold LVO compared to a year ago (-52% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 43% buying
12 buying16 selling
Last quarter: 16 funds reduced or exited vs 12 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 20 → 4 → 5 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 19% medium
■ 25% new
18 out of 32 hedge funds have held LVO 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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Saturation — most institutions already know this story
11 → 20 → 4 → 5 → 8 new funds/Q
New funds entering each quarter: 20 → 4 → 5 → 8. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 64% veterans vs 27% newcomers
■ 64% veterans
■ 9% 1-2yr
■ 27% new
Entry-cohort mix of 33 holders: 21 (64%) are 2+ year veterans, 3 entered 1–2 years ago, and 9 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
15 of 31 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in LVO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 1.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.