Based on 186 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their GTN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 89% of 3.0Y peak
89% of all-time peak
186 funds currently hold this stock — 89% of the 3.0-year high of 209 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding GTN is almost the same as a year ago (-3 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 52% buying
99 buying91 selling
Last quarter: 99 funds bought or added vs 91 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.
⚠️
Fewer new buyers each quarter (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 46 → 29 → 35 → 22. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 20% medium
■ 12% new
126 out of 186 hedge funds have held GTN 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.
💎
Buying through price weakness — shares -0%, value -16%
Last quarter: funds added -0% more shares while total portfolio value only changed -16%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
39 → 46 → 29 → 35 → 22 new funds/Q
New funds entering each quarter: 46 → 29 → 35 → 22. GTN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 76% of holders stayed 2+ years
■ 76% veterans
■ 11% 1-2yr
■ 14% new
Of 189 current holders: 143 (76%) 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.
🏆
Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
29 of 186 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in GTN. 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.