Based on 34 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 GIG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 52% of 3.0Y high
52% of all-time peak
Only 34 funds hold GIG today versus a peak of 66 funds at 2017 Q1 — just 52% 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.
📶
Steady growth — +10% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+10% 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 4 quarters from the low — a sharp move.
🔴
Heavy selling pressure — only 35% buying
11 buying20 selling
Last quarter: 20 funds sold vs only 11 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-17 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 4 → 4 → 20 → 3. 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.
🔄
Mostly new holders — 32% entered in last year
■ 9% conviction (2yr+)
■ 59% medium
■ 32% new
Only 3 funds (9%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +10931% but shares only +9% — price-driven
Last quarter: the total dollar value of institutional holdings rose +10931%, but actual share count only changed +9%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~3 new funds/quarter
7 → 4 → 4 → 20 → 3 new funds/Q
New funds entering each quarter: 4 → 4 → 20 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 41% veterans vs 38% newcomers
■ 41% veterans
■ 21% 1-2yr
■ 38% new
Entry-cohort mix of 34 holders: 14 (41%) are 2+ year veterans, 7 entered 1–2 years ago, and 13 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
9 of 34 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in GIG. 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 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.