Based on 366 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added GNW 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 (100% of max)
100% of all-time peak
366 hedge funds hold GNW 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
+21 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.
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More sellers than buyers — 47% buying
165 buying189 selling
Last quarter: 189 funds reduced or exited vs 165 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~56 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 41 → 48 → 52 → 56. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 16% medium
■ 16% new
250 out of 366 hedge funds have held GNW 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
42 → 41 → 48 → 52 → 56 new funds/Q
New funds entering each quarter: 41 → 48 → 52 → 56. A growing number of institutions are discovering GNW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 72% veterans vs 20% newcomers
■ 72% veterans
■ 8% 1-2yr
■ 20% new
Entry-cohort mix of 373 holders: 270 (72%) are 2+ year veterans, 29 entered 1–2 years ago, and 74 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
48 of 366 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.