Based on 1248 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 WBD 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
1,248 hedge funds hold WBD 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
+155 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 — 56% buying
714 buying564 selling
Last quarter: 714 funds bought or added vs 564 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 (+147 vs last Q)
new funds entering per quarter
Funds opening a new WBD position: 124 → 129 → 158 → 305. 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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63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 17% medium
■ 20% new
788 out of 1,248 hedge funds have held WBD 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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Buying through price weakness — shares +5%, value -31%
Last quarter: funds added +5% more shares while total portfolio value only changed -31%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
164 → 124 → 129 → 158 → 305 new funds/Q
New funds entering each quarter: 124 → 129 → 158 → 305. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 9% 1-2yr
■ 22% new
Of 1,349 current holders: 934 (69%) 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 — 49% AUM from top-100 funds
49% from top-100 AUM funds
50 of 1248 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in WBD. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.