Based on 73 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their HYGW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 90% of 3.0Y peak
90% of all-time peak
73 funds currently hold this stock — 90% of the 3.0-year high of 81 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +12% more funds vs a year ago
fund count last 6Q
+8 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 29% buying
25 buying62 selling
Last quarter: 62 funds sold vs only 25 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 8 → 16 → 20 → 12. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 36% entered in last year
■ 16% conviction (2yr+)
■ 48% medium
■ 36% new
Only 12 funds (16%) 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.
📈
Growing discovery — still being found
17 → 8 → 16 → 20 → 12 new funds/Q
New funds entering each quarter: 8 → 16 → 20 → 12. A growing number of institutions are discovering HYGW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 15% veterans, 47% new entrants
■ 15% veterans
■ 38% 1-2yr
■ 47% new
Of 73 current holders: 11 (15%) held 2+ years, 28 held 1–2 years, 34 (47%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
9 of 73 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in HYGW. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.