Based on 50 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added GRAF 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.
🔻
Below peak — only 44% of 3.0Y high
44% of all-time peak
Only 50 funds hold GRAF today versus a peak of 114 funds at 2022 Q4 — just 44% 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.
🚀
Fast accumulation — +32% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+32% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡
Slight buying edge — 54% buying
13 buying11 selling
Last quarter: 13 funds bought or added vs 11 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 — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 3 → 4 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 18% entered in last year
■ 22% conviction (2yr+)
■ 60% medium
■ 18% new
Only 11 funds (22%) 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 +6669% but shares only +1% — price-driven
Last quarter: the total dollar value of institutional holdings rose +6669%, but actual share count only changed +1%. 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
4 → 8 → 3 → 4 → 5 new funds/Q
New funds entering each quarter: 8 → 3 → 4 → 5. GRAF 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 — 28% veterans, 30% new entrants
■ 28% veterans
■ 42% 1-2yr
■ 30% new
Of 50 current holders: 14 (28%) held 2+ years, 21 held 1–2 years, 15 (30%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
6 of 50 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in GRAF. 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 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.