Based on 10 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added HDG 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.
🔻
Below peak — only 62% of 3.0Y high
62% of all-time peak
Only 10 funds hold HDG today versus a peak of 16 funds at 2023 Q1 — just 62% 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding HDG is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 78% buying
7 buying2 selling
Last quarter: 7 funds were net buyers (3 opened a brand new position + 4 added to an existing one). Only 2 were sellers (2 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 0 → 0 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 30% medium
■ 20% new
5 out of 10 hedge funds have held HDG 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.
➡️
Steady discovery — ~3 new funds/quarter
3 → 1 → 0 → 0 → 3 new funds/Q
New funds entering each quarter: 1 → 0 → 0 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 50% of holders stayed 2+ years
■ 50% veterans
■ 10% 1-2yr
■ 40% new
Of 10 current holders: 5 (50%) 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.
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Smaller funds dominant — 10% AUM from top-100
10% from top-100 AUM funds
2 of 10 holders rank in the top 100 by AUM, but together hold only 10% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.