Based on 71 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added VGZ 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
71 hedge funds hold VGZ 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.
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Fast accumulation — +73% more funds vs a year ago
fund count last 6Q
+30 new funds entered over the past year (+73% 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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Slight buying edge — 57% buying
36 buying27 selling
Last quarter: 36 funds bought or added vs 27 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.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 12 → 11 → 22 → 16. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 21% medium
■ 35% new
31 out of 71 hedge funds have held VGZ 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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Acceleration phase — new buyers rushing in
12 → 12 → 11 → 22 → 16 new funds/Q
New funds entering each quarter: 12 → 11 → 22 → 16. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 6% 1-2yr
■ 35% new
Of 77 current holders: 45 (58%) 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 — 13% AUM from top-100
13% from top-100 AUM funds
12 of 71 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.