Based on 8 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added HWH 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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Below peak — only 53% of 2.5Y high
53% of all-time peak
Only 8 funds hold HWH today versus a peak of 15 funds at 2024 Q4 — just 53% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Fast accumulation — +60% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+60% 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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Heavy selling pressure — only 29% buying
2 buying5 selling
Last quarter: 5 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 0 → 4 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 62% entered in last year
■ 12% conviction (2yr+)
■ 25% medium
■ 62% new
Only 1 funds (12%) 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.
💰
Value +115% but shares only +87% — price-driven
Last quarter: the total dollar value of institutional holdings rose +115%, but actual share count only changed +87%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~2 new funds/quarter
0 → 5 → 0 → 4 → 2 new funds/Q
New funds entering each quarter: 5 → 0 → 4 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 12% veterans, 50% new entrants
■ 12% veterans
■ 38% 1-2yr
■ 50% new
Of 8 current holders: 1 (12%) held 2+ years, 3 held 1–2 years, 4 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 72% AUM from top-100 funds
72% from top-100 AUM funds
4 of 8 holders are among the 100 largest funds by AUM, controlling 72% of total institutional value in HWH. 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.