Based on 320 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 FIW 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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At the ownership peak (100% of max)
100% of all-time peak
320 hedge funds hold FIW 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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Steady growth — +9% more funds vs a year ago
fund count last 6Q
+27 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 56% buying
164 buying129 selling
Last quarter: 164 funds bought or added vs 129 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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More new buyers each quarter (+25 vs last Q)
new funds entering per quarter
Funds opening a new FIW position: 26 → 49 → 21 → 46. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 21% medium
■ 21% new
186 out of 320 hedge funds have held FIW 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 — ~46 new funds/quarter
29 → 26 → 49 → 21 → 46 new funds/Q
New funds entering each quarter: 26 → 49 → 21 → 46. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 61% veterans vs 24% newcomers
■ 61% veterans
■ 15% 1-2yr
■ 24% new
Entry-cohort mix of 321 holders: 196 (61%) are 2+ year veterans, 47 entered 1–2 years ago, and 78 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
21 of 318 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in FIW. 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.