Based on 104 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 GNOV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (99% of max)
99% of all-time peak
104 hedge funds hold GNOV 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.
📶
Steady growth — +16% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 35% buying
22 buying40 selling
Last quarter: 40 funds sold vs only 22 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-28 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 8 → 8 → 34 → 6. 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.
📌
Mixed — 27% long-term, 29% new
■ 27% conviction (2yr+)
■ 44% medium
■ 29% new
Of the 104 current holders: 28 (27%) held >2 years, 46 held 1–2 years, and 30 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.
➡️
Steady discovery — ~6 new funds/quarter
9 → 8 → 8 → 34 → 6 new funds/Q
New funds entering each quarter: 8 → 8 → 34 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 27% veterans, 34% new entrants
■ 27% veterans
■ 39% 1-2yr
■ 34% new
Of 104 current holders: 28 (27%) held 2+ years, 41 held 1–2 years, 35 (34%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 7% AUM from top-100
7% from top-100 AUM funds
7 of 104 holders rank in the top 100 by AUM, but together hold only 7% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.9
out of 10
Moderate Exit Risk
Exit risk score 4.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.