Based on 8 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 UPW 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 — 73% of 3.0Y peak
73% of all-time peak
8 funds currently hold this stock — 73% of the 3.0-year high of 11 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 44% buying
4 buying5 selling
Last quarter: 5 funds reduced or exited vs 4 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 — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 2 → 3 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
88% of holders stayed for 2+ years
■ 88% conviction (2yr+)
■ 0% medium
■ 12% new
7 out of 8 hedge funds have held UPW 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.
💰
Value +312% but shares only +261% — price-driven
Last quarter: the total dollar value of institutional holdings rose +312%, but actual share count only changed +261%. 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.
⚠️
Saturation — most institutions already know this story
1 → 6 → 2 → 3 → 1 new funds/Q
New funds entering each quarter: 6 → 2 → 3 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Veteran-anchored — 88% veterans vs 12% newcomers
■ 88% veterans
■ 0% 1-2yr
■ 12% new
Entry-cohort mix of 8 holders: 7 (88%) are 2+ year veterans, 0 entered 1–2 years ago, and 1 (12%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 87% AUM from top-100 funds
87% from top-100 AUM funds
4 of 8 holders are among the 100 largest funds by AUM, controlling 87% of total institutional value in UPW. 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 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.