Based on 80 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added GLAD 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
80 hedge funds hold GLAD 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.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 54% buying
44 buying38 selling
Last quarter: 44 funds bought or added vs 38 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 — ~17 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 12 → 14 → 17. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 36% entered in last year
■ 5% conviction (2yr+)
■ 59% medium
■ 36% new
Only 4 funds (5%) 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.
📈
Growing discovery — still being found
22 → 9 → 12 → 14 → 17 new funds/Q
New funds entering each quarter: 9 → 12 → 14 → 17. A growing number of institutions are discovering GLAD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 4% veterans, 45% new entrants
■ 4% veterans
■ 52% 1-2yr
■ 45% new
Of 83 current holders: 3 (4%) held 2+ years, 43 held 1–2 years, 37 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
11 of 80 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.