Based on 16 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their TWM 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 — 70% of 3.0Y peak
70% of all-time peak
16 funds currently hold this stock — 70% of the 3.0-year high of 23 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +23% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+23% 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 sellers than buyers — 48% buying
11 buying12 selling
Last quarter: 12 funds reduced or exited vs 11 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 6 → 7 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
75% of holders stayed for 2+ years
■ 75% conviction (2yr+)
■ 6% medium
■ 19% new
12 out of 16 hedge funds have held TWM 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 +9%, value -24%
Last quarter: funds added +9% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~6 new funds/quarter
2 → 2 → 6 → 7 → 6 new funds/Q
New funds entering each quarter: 2 → 6 → 7 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 79% veterans vs 16% newcomers
■ 79% veterans
■ 5% 1-2yr
■ 16% new
Entry-cohort mix of 19 holders: 15 (79%) are 2+ year veterans, 1 entered 1–2 years ago, and 3 (16%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 14% AUM from top-100
14% from top-100 AUM funds
5 of 15 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.