Based on 180 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added VTWG 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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At the ownership peak (100% of max)
100% of all-time peak
180 hedge funds hold VTWG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Steady growth — +14% more funds vs a year ago
fund count last 6Q
+22 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.
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Slight buying edge — 55% buying
82 buying66 selling
Last quarter: 82 funds bought or added vs 66 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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More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new VTWG position: 12 → 18 → 16 → 29. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 24% medium
■ 22% new
98 out of 180 hedge funds have held VTWG 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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Growing discovery — still being found
27 → 12 → 18 → 16 → 29 new funds/Q
New funds entering each quarter: 12 → 18 → 16 → 29. A growing number of institutions are discovering VTWG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 55% of holders stayed 2+ years
■ 55% veterans
■ 14% 1-2yr
■ 31% new
Of 182 current holders: 100 (55%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
18 of 180 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.