Based on 204 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added GAB 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
204 hedge funds hold GAB 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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Steady growth — +9% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 63% buying
103 buying60 selling
Last quarter: 103 funds were net buyers (37 opened a brand new position + 66 added to an existing one). Only 60 were sellers (38 trimmed + 22 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new GAB position: 20 → 15 → 26 → 37. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 19% medium
■ 22% new
121 out of 204 hedge funds have held GAB 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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Buying through price weakness — shares +8%, value -10%
Last quarter: funds added +8% more shares while total portfolio value only changed -10%. 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
16 → 20 → 15 → 26 → 37 new funds/Q
New funds entering each quarter: 20 → 15 → 26 → 37. 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 — 60% veterans vs 25% newcomers
■ 60% veterans
■ 15% 1-2yr
■ 25% new
Entry-cohort mix of 204 holders: 122 (60%) are 2+ year veterans, 30 entered 1–2 years ago, and 52 (25%) 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
14 of 204 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.