Based on 23 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their GCTS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 57% of 2.0Y high
57% of all-time peak
Only 23 funds hold GCTS today versus a peak of 40 funds at 2024 Q3 — just 57% 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 — 41% fewer funds vs a year ago
fund count last 6Q
16 fewer hedge funds hold GCTS compared to a year ago (-41% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 52% buying
14 buying13 selling
Last quarter: 14 funds bought or added vs 13 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.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 11 → 9 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 39% entered in last year
■ 0% conviction (2yr+)
■ 61% medium
■ 39% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares +2%, value -19%
Last quarter: funds added +2% more shares while total portfolio value only changed -19%. 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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Peak discovery — momentum slowing
3 → 5 → 11 → 9 → 4 new funds/Q
New funds entering each quarter: 5 → 11 → 9 → 4. GCTS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 0% veterans, 39% new entrants
■ 0% veterans
■ 61% 1-2yr
■ 39% new
Of 23 current holders: 0 (0%) held 2+ years, 14 held 1–2 years, 9 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 72% AUM from top-100 funds
72% from top-100 AUM funds
11 of 23 holders are among the 100 largest funds by AUM, controlling 72% of total institutional value in GCTS. 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 1.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.