Based on 6 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 VWAPY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 67% of 3.0Y high
67% of all-time peak
Only 6 funds hold VWAPY today versus a peak of 9 funds at 2023 Q2 — just 67% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📉
Outflows — 14% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold VWAPY compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 50% buying
3 buying3 selling
Last quarter: 3 funds bought or added vs 3 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.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 3 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
83% of holders stayed for 2+ years
■ 83% conviction (2yr+)
■ 0% medium
■ 17% new
5 out of 6 hedge funds have held VWAPY 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 +10%, value -8%
Last quarter: funds added +10% more shares while total portfolio value only changed -8%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~0 new funds/quarter
1 → 0 → 0 → 3 → 0 new funds/Q
New funds entering each quarter: 0 → 0 → 3 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 83% veterans vs 17% newcomers
■ 83% veterans
■ 0% 1-2yr
■ 17% new
Entry-cohort mix of 6 holders: 5 (83%) are 2+ year veterans, 0 entered 1–2 years ago, and 1 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 43% AUM from top-100 funds
43% from top-100 AUM funds
2 of 6 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in VWAPY. 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 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.