Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Western Asset High Income Op (HIO)

118 + Investors. Track Smart Money conviction in HIO. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +7
Streak
4Q ▲
Buyers last Q
61%

Smart Money Signals — HIO

Based on 120 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds added HIO 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
120 hedge funds hold HIO 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.
🚀

Fast accumulation — +25% more funds vs a year ago

fund count last 6Q
+24 new funds entered over the past year (+25% 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.
🟢

More buyers than sellers — 61% buying

63 buying40 selling
Last quarter: 63 funds were net buyers (20 opened a brand new position + 43 added to an existing one). Only 40 were sellers (27 trimmed + 13 sold completely). A clear majority buying is a strong confirmation signal.
➡️

Steady new buyers — ~20 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 16 → 17 → 19 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

54% of holders stayed for 2+ years

■ 54% conviction (2yr+) ■ 27% medium ■ 19% new
65 out of 120 hedge funds have held HIO 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.
💎

Buying through price weakness — shares +8%, value -93%

Value
-92%
Shares
+7%
Last quarter: funds added +8% more shares while total portfolio value only changed -93%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

15 → 16 → 17 → 19 → 20 new funds/Q
New funds entering each quarter: 16 → 17 → 19 → 20. A growing number of institutions are discovering HIO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 58% veterans vs 28% newcomers

■ 58% veterans ■ 13% 1-2yr ■ 28% new
Entry-cohort mix of 120 holders: 70 (58%) are 2+ year veterans, 16 entered 1–2 years ago, and 34 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 60% AUM from top-100 funds

60% from top-100 AUM funds
15 of 120 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in HIO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — HIO

In 2026 Q1, 63 hedge funds were net buyers of HIO (20 opened a new position, 43 added to an existing one), while 40 reduced or exited (27 trimmed, 13 sold completely) — a 61% buyer ratio, indicating clear institutional accumulation. This marks 4 consecutive quarters of net institutional buying — a persistent conviction signal. 60% of total institutional value in HIO is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +7 funds (more new holders than closures). Total institutional holders: 120.

Hedge Fund Ownership: HIO

How many hedge funds hold HIO — quarterly history vs. share price
Quarterly hedge fund ownership of HIO vs. share price

Market Analysis: HIO

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HIO

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Western Asset High Income Op (HIO) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much HIO has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 82d ago
HIO
+0.0%
XLF
+8.5%

HIO outperformed XLF by -8.5% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 37d ago
HIO
-0.3%
XLF
+4.8%

Since the filing became public, HIO outperformed XLF by -5.1% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

6 top-rated funds 0 high-conviction
Consensus
3.7
/ 10
breadth
×
Elite
0.6
/ 10
conviction
Hedge Fund Positioning: HIO
118 + Investors

Track Smart Money conviction in HIO. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 118 113 4.42%
13F Shares 32M 30M 7.51%
Total Value $98M $1.34B -92.64%
New Positions 18 19 -1
Increased Positions 43 34 +9
Closed Positions 13 9 +4
Reduced Positions 27 31 -4
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: HIO

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

118 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in HIO. Verified SEC 13F-HR filings.

QUARTER:
Top 25 HIO holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Rareview Capital LLC 1.61% 691,641 $2.8M
2 Fca Corp /Tx 1.24% 1,206,739 $4.4M
3 Shaker Financial Services, LLC 0.65% 512,974 $1.9M
4 Kanen Wealth Management LLC 0.64% 490,454 $1.8M
5 Pathway Financial Advisers, LLC 0.29% 279,433 $1.0M
6 Absolute Investment Advisers, LLC 0.20% 469,158 $1.7M
7 Quarry LP 0.20% 305,111 $1.1M
8 Melfa Wealth Management, INC. 0.16% 78,950 $287K
9 Capital Investment Advisors, LLC 0.15% 2,539,012 $9.2M
10 Fortis Group Advisors, LLC 0.13% 210,571 $777K
11 Everstar Asset Management, LLC 0.10% 53,180 $193K
12 Wilson & Boucher Capital Management, LLC 0.08% 32,975 $120K
13 Corps Capital Advisors, LLC 0.08% 25,000 $91K
14 Accredited Investor Services, LLC 0.07% 31,422 $114K
15 Walled Lake Planning & Wealth Management, LLC 0.05% 50,985 $185K
16 Dudley Capital Management, LLC 0.05% 31,100 $113K
17 Kelleher Financial Advisors 0.03% 34,308 $125K
18 Chicago Partners Investment Group LLC 0.03% 368,306 $1.4M
19 Samalin Investment Counsel, LLC 0.03% 22,235 $81K
20 Nova Wealth Management, Inc. 0.02% 10,450 $38K
21 NWF Advisory Services Inc. 0.02% 56,921 $207K
22 Uncommon Cents Investing LLC 0.02% 26,327 $96K
23 Cape Investment Advisory, Inc. 0.02% 18,300 $66K
24 Chapin Davis, INC. 0.02% 26,909 $98K
25 RFG Advisory, LLC 0.02% 287,063 $1.0M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Western Asset High Income Op (HIO)

What does the Smart Money Trend signal show for HIO?

Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added HIO 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.

What is the institutional breadth score for HIO?

More buyers than sellers — 61% buying: Last quarter: 63 funds were net buyers (20 opened a brand new position + 43 added to an existing one). Only 40 were sellers (27 trimmed + 13 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for HIO holders?

Elite ownership — 60% AUM from top-100 funds: 15 of 120 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in HIO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held HIO?

54% of holders stayed for 2+ years: 65 out of 120 hedge funds have held HIO 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.

Is it too late to buy Western Asset High Income Op (HIO) following the 2026 Q1 hedge fund 13F filings?

As of today, HIO has moved -0.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLF sector ETF — an outperformance of -5.1%. Since the quarter end (March 31, 2026), HIO has gained +0.0% vs +8.5% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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