Based on 8 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 TGL 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 16% of 3.0Y high
16% of all-time peak
Only 8 funds hold TGL today versus a peak of 51 funds at 2022 Q3 — just 16% 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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Fast accumulation — +100% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+100% 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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More sellers than buyers — 43% buying
3 buying4 selling
Last quarter: 4 funds reduced or exited vs 3 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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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: 4 → 5 → 3 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 0% medium
■ 38% new
5 out of 8 hedge funds have held TGL 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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Saturation — most institutions already know this story
4 → 4 → 5 → 3 → 2 new funds/Q
New funds entering each quarter: 4 → 5 → 3 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 62% veterans vs 38% newcomers
■ 62% veterans
■ 0% 1-2yr
■ 38% new
Entry-cohort mix of 8 holders: 5 (62%) are 2+ year veterans, 0 entered 1–2 years ago, and 3 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 53% AUM from top-100 funds
53% from top-100 AUM funds
4 of 8 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in TGL. 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.