Based on 95 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 GALT 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 (98% of max)
98% of all-time peak
95 hedge funds hold GALT 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 GALT is almost the same as a year ago (-2 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
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More buyers than sellers — 61% buying
53 buying34 selling
Last quarter: 53 funds were net buyers (24 opened a brand new position + 29 added to an existing one). Only 34 were sellers (23 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new GALT position: 12 → 15 → 15 → 24. 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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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 23% medium
■ 24% new
50 out of 95 hedge funds have held GALT 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
21 → 12 → 15 → 15 → 24 new funds/Q
New funds entering each quarter: 12 → 15 → 15 → 24. A growing number of institutions are discovering GALT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 8% 1-2yr
■ 27% new
Of 99 current holders: 64 (65%) 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.
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Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
18 of 95 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.