Based on 12 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added GXDW 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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Below peak — only 60% of 3.0Y high
60% of all-time peak
Only 12 funds hold GXDW today versus a peak of 20 funds at 2023 Q4 — just 60% 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 — 14% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold GXDW compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 62% buying
5 buying3 selling
Last quarter: 5 funds were net buyers (2 opened a brand new position + 3 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 25% medium
■ 25% new
6 out of 12 hedge funds have held GXDW 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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Value +39% but shares only +16% — price-driven
Last quarter: the total dollar value of institutional holdings rose +39%, but actual share count only changed +16%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~2 new funds/quarter
2 → 1 → 3 → 2 → 2 new funds/Q
New funds entering each quarter: 1 → 3 → 2 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 50% veterans vs 25% newcomers
■ 50% veterans
■ 25% 1-2yr
■ 25% new
Entry-cohort mix of 12 holders: 6 (50%) are 2+ year veterans, 3 entered 1–2 years ago, and 3 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
2 of 12 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in GXDW. 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 1.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.