Based on 40 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 UGA 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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High ownership — 93% of 3.0Y peak
93% of all-time peak
40 funds currently hold this stock — 93% of the 3.0-year high of 43 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 7% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold UGA compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 41% buying
16 buying23 selling
Last quarter: 23 funds reduced or exited vs 16 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.
➡️
Steady new buyers — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 5 → 4 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 20% medium
■ 20% new
24 out of 40 hedge funds have held UGA 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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Steady discovery — ~9 new funds/quarter
8 → 3 → 5 → 4 → 9 new funds/Q
New funds entering each quarter: 3 → 5 → 4 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 64% of holders stayed 2+ years
■ 64% veterans
■ 14% 1-2yr
■ 23% new
Of 44 current holders: 28 (64%) 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 — 5% AUM from top-100
5% from top-100 AUM funds
7 of 40 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.