Based on 55 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 AMWL 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 — 90% of 3.0Y peak
90% of all-time peak
55 funds currently hold this stock — 90% of the 3.0-year high of 61 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 8% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold AMWL compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 53% buying
32 buying28 selling
Last quarter: 32 funds bought or added vs 28 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.
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Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 7 → 8 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 29% entered in last year
■ 7% conviction (2yr+)
■ 64% medium
■ 29% new
Only 4 funds (7%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Buying through price weakness — shares -5%, value -24%
Last quarter: funds added -5% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
8 → 12 → 7 → 8 → 13 new funds/Q
New funds entering each quarter: 12 → 7 → 8 → 13. A growing number of institutions are discovering AMWL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 7% veterans, 35% new entrants
■ 7% veterans
■ 58% 1-2yr
■ 35% new
Of 57 current holders: 4 (7%) held 2+ years, 33 held 1–2 years, 20 (35%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
16 of 55 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in AMWL. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.