Based on 387 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their GT 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 (97% of max)
97% of all-time peak
387 hedge funds hold GT 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding GT is almost the same as a year ago (+3 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 52% buying
212 buying196 selling
Last quarter: 212 funds bought or added vs 196 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.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 71 → 57 → 73 → 63. 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.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 19% medium
■ 14% new
262 out of 387 hedge funds have held GT 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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Buying through price weakness — shares -3%, value -29%
Last quarter: funds added -3% more shares while total portfolio value only changed -29%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~63 new funds/quarter
58 → 71 → 57 → 73 → 63 new funds/Q
New funds entering each quarter: 71 → 57 → 73 → 63. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 75% veterans vs 16% newcomers
■ 75% veterans
■ 9% 1-2yr
■ 16% new
Entry-cohort mix of 408 holders: 306 (75%) are 2+ year veterans, 35 entered 1–2 years ago, and 67 (16%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 53% AUM from top-100 funds
53% from top-100 AUM funds
47 of 382 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in GT. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.