Based on 428 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added OGS 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
428 hedge funds hold OGS 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.
📶
Steady growth — +11% more funds vs a year ago
fund count last 6Q
+41 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 58% buying
234 buying169 selling
Last quarter: 234 funds bought or added vs 169 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.
➡️
Steady new buyers — ~60 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 44 → 58 → 65 → 60. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 18% medium
■ 16% new
279 out of 428 hedge funds have held OGS 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 +13%, value -5%
Last quarter: funds added +13% more shares while total portfolio value only changed -5%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
59 → 44 → 58 → 65 → 60 new funds/Q
New funds entering each quarter: 44 → 58 → 65 → 60. A growing number of institutions are discovering OGS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 69% veterans vs 19% newcomers
■ 69% veterans
■ 12% 1-2yr
■ 19% new
Entry-cohort mix of 430 holders: 298 (69%) are 2+ year veterans, 50 entered 1–2 years ago, and 82 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 61% AUM from top-100 funds
61% from top-100 AUM funds
54 of 428 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in OGS. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.