Based on 19 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added HFGO 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
19 hedge funds hold HFGO 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.
🚀
Fast accumulation — +46% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+46% 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.
🟢
More buyers than sellers — 63% buying
12 buying7 selling
Last quarter: 12 funds were net buyers (6 opened a brand new position + 6 added to an existing one). Only 7 were sellers (5 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 4 → 5 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 26% long-term, 53% new
■ 26% conviction (2yr+)
■ 21% medium
■ 53% new
Of the 19 current holders: 5 (26%) held >2 years, 4 held 1–2 years, and 10 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Value +31% but shares only +13% — price-driven
Last quarter: the total dollar value of institutional holdings rose +31%, but actual share count only changed +13%. 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.
➡️
Steady discovery — ~6 new funds/quarter
3 → 3 → 4 → 5 → 6 new funds/Q
New funds entering each quarter: 3 → 4 → 5 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 26% veterans, 53% new entrants
■ 26% veterans
■ 21% 1-2yr
■ 53% new
Of 19 current holders: 5 (26%) held 2+ years, 4 held 1–2 years, 10 (53%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
4 of 19 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.