Based on 190 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 FGD 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
190 hedge funds hold FGD 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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Fast accumulation — +39% more funds vs a year ago
fund count last 6Q
+53 new funds entered over the past year (+39% 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.
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More buyers than sellers — 64% buying
114 buying63 selling
Last quarter: 114 funds were net buyers (39 opened a brand new position + 75 added to an existing one). Only 63 were sellers (45 trimmed + 18 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+17 vs last Q)
new funds entering per quarter
Funds opening a new FGD position: 18 → 25 → 22 → 39. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 23% medium
■ 25% new
99 out of 190 hedge funds have held FGD 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
14 → 18 → 25 → 22 → 39 new funds/Q
New funds entering each quarter: 18 → 25 → 22 → 39. A growing number of institutions are discovering FGD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 60% veterans vs 26% newcomers
■ 60% veterans
■ 14% 1-2yr
■ 26% new
Entry-cohort mix of 190 holders: 114 (60%) are 2+ year veterans, 27 entered 1–2 years ago, and 49 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 62% AUM from top-100 funds
62% from top-100 AUM funds
19 of 190 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in FGD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.