Based on 266 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added GWX 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 (100% of max)
100% of all-time peak
266 hedge funds hold GWX 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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Fast accumulation — +22% more funds vs a year ago
fund count last 6Q
+48 new funds entered over the past year (+22% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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Slight buying edge — 55% buying
135 buying109 selling
Last quarter: 135 funds bought or added vs 109 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.
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Steady new buyers — ~38 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 25 → 31 → 33 → 38. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 17% medium
■ 20% new
168 out of 266 hedge funds have held GWX 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
29 → 25 → 31 → 33 → 38 new funds/Q
New funds entering each quarter: 25 → 31 → 33 → 38. A growing number of institutions are discovering GWX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 67% veterans vs 21% newcomers
■ 67% veterans
■ 12% 1-2yr
■ 21% new
Entry-cohort mix of 266 holders: 178 (67%) are 2+ year veterans, 31 entered 1–2 years ago, and 57 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
20 of 266 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.