Based on 17 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 HYDW 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 — 77% of 3.0Y peak
77% of all-time peak
17 funds currently hold this stock — 77% of the 3.0-year high of 22 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 — 19% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold HYDW compared to a year ago (-19% 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 — 58% buying
11 buying8 selling
Last quarter: 11 funds bought or added vs 8 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 — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 5 → 4 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 6% medium
■ 24% new
12 out of 17 hedge funds have held HYDW 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 — ~5 new funds/quarter
5 → 2 → 5 → 4 → 5 new funds/Q
New funds entering each quarter: 2 → 5 → 4 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 71% veterans vs 24% newcomers
■ 71% veterans
■ 6% 1-2yr
■ 24% new
Entry-cohort mix of 17 holders: 12 (71%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 29% AUM from major funds
29% from top-100 AUM funds
5 of 17 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.