Based on 53 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added AGD 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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High ownership — 77% of 3.0Y peak
77% of all-time peak
53 funds currently hold this stock — 77% of the 3.0-year high of 69 funds (reached 2023 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 16% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold AGD compared to a year ago (-16% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 60% buying
31 buying21 selling
Last quarter: 31 funds were net buyers (8 opened a brand new position + 23 added to an existing one). Only 21 were sellers (14 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 8 → 6 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 21% medium
■ 21% new
31 out of 53 hedge funds have held AGD 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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Steady discovery — ~8 new funds/quarter
10 → 6 → 8 → 6 → 8 new funds/Q
New funds entering each quarter: 6 → 8 → 6 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 11% 1-2yr
■ 30% new
Of 53 current holders: 31 (58%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
8 of 53 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.