Based on 153 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added WASH 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 (99% of max)
99% of all-time peak
153 hedge funds hold WASH 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding WASH is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 40% buying
57 buying84 selling
Last quarter: 84 funds reduced or exited vs 57 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.
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Steady new buyers — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 21 → 22 → 20 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 25% medium
■ 16% new
91 out of 153 hedge funds have held WASH 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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Peak discovery — momentum slowing
34 → 21 → 22 → 20 → 15 new funds/Q
New funds entering each quarter: 21 → 22 → 20 → 15. WASH is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 8% 1-2yr
■ 24% new
Of 153 current holders: 104 (68%) 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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Elite ownership — 55% AUM from top-100 funds
55% from top-100 AUM funds
31 of 153 holders are among the 100 largest funds by AUM, controlling 55% of total institutional value in WASH. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.