Based on 80 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their GLAD positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 91% of 3.0Y peak
91% of all-time peak
80 funds currently hold this stock — 91% of the 3.0-year high of 88 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +4% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 50% buying
39 buying39 selling
Last quarter: 39 funds bought or added vs 39 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.
➡️
Steady new buyers — ~14 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 17 → 19 → 16 → 14. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 30% long-term, 31% new
■ 30% conviction (2yr+)
■ 39% medium
■ 31% new
Of the 80 current holders: 24 (30%) held >2 years, 31 held 1–2 years, and 25 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Value +38% but shares only +9% — price-driven
Last quarter: the total dollar value of institutional holdings rose +38%, 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.
📊
Peak discovery — momentum slowing
13 → 17 → 19 → 16 → 14 new funds/Q
New funds entering each quarter: 17 → 19 → 16 → 14. GLAD is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 4% veterans, 43% new entrants
■ 4% veterans
■ 54% 1-2yr
■ 43% new
Of 82 current holders: 3 (4%) held 2+ years, 44 held 1–2 years, 35 (43%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
17 of 77 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in GLAD. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.