Based on 129 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 GCO 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 (96% of max)
96% of all-time peak
129 hedge funds hold GCO 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 — +6% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 2 quarters from the low — a sharp move.
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Slight buying edge — 54% buying
74 buying63 selling
Last quarter: 74 funds bought or added vs 63 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.
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More new buyers each quarter (+22 vs last Q)
new funds entering per quarter
Funds opening a new GCO position: 16 → 22 → 11 → 33. 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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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 18% medium
■ 14% new
88 out of 129 hedge funds have held GCO 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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Growing discovery — still being found
24 → 16 → 22 → 11 → 33 new funds/Q
New funds entering each quarter: 16 → 22 → 11 → 33. A growing number of institutions are discovering GCO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 76% veterans vs 17% newcomers
■ 76% veterans
■ 8% 1-2yr
■ 17% new
Entry-cohort mix of 132 holders: 100 (76%) are 2+ year veterans, 10 entered 1–2 years ago, and 22 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
36 of 127 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.