Based on 65 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added AGD 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 — 94% of 3.0Y peak
94% of all-time peak
65 funds currently hold this stock — 94% of the 3.0-year high of 69 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +5% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 75% buying
39 buying13 selling
Last quarter: 39 funds were net buyers (13 opened a brand new position + 26 added to an existing one). Only 13 were sellers (9 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 7 → 9 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
49% of holders stayed for 2+ years
■ 49% conviction (2yr+)
■ 25% medium
■ 26% new
32 out of 65 hedge funds have held AGD 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 +13%, value -11%
Last quarter: funds added +13% more shares while total portfolio value only changed -11%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
6 → 8 → 7 → 9 → 13 new funds/Q
New funds entering each quarter: 8 → 7 → 9 → 13. A growing number of institutions are discovering AGD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 54% veterans vs 32% newcomers
■ 54% veterans
■ 14% 1-2yr
■ 32% new
Entry-cohort mix of 65 holders: 35 (54%) are 2+ year veterans, 9 entered 1–2 years ago, and 21 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
11 of 64 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.