Based on 7 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their GABF positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 64% of 3.0Y high
64% of all-time peak
Only 7 funds hold GABF today versus a peak of 11 funds at 2025 Q2 — just 64% 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.
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Outflows — 36% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold GABF compared to a year ago (-36% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 43% buying
3 buying4 selling
Last quarter: 4 funds reduced or exited vs 3 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.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 4 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 29% long-term, 0% new
■ 29% conviction (2yr+)
■ 71% medium
■ 0% new
Of the 7 current holders: 2 (29%) held >2 years, 5 held 1–2 years, and 0 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~0 new funds/quarter
4 → 2 → 2 → 4 → 0 new funds/Q
New funds entering each quarter: 2 → 2 → 4 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 71% veterans vs 14% newcomers
■ 71% veterans
■ 14% 1-2yr
■ 14% new
Entry-cohort mix of 7 holders: 5 (71%) are 2+ year veterans, 1 entered 1–2 years ago, and 1 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
3 of 7 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.