Based on 70 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added WDIV 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
70 hedge funds hold WDIV 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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Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+21% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks. The peak was reached in just 4 quarters from the low — a sharp move.
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More buyers than sellers — 60% buying
34 buying23 selling
Last quarter: 34 funds were net buyers (10 opened a brand new position + 24 added to an existing one). Only 23 were sellers (14 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 8 → 11 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 17% medium
■ 16% new
47 out of 70 hedge funds have held WDIV 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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Steady discovery — ~10 new funds/quarter
4 → 4 → 8 → 11 → 10 new funds/Q
New funds entering each quarter: 4 → 8 → 11 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 73% of holders stayed 2+ years
■ 73% veterans
■ 9% 1-2yr
■ 19% new
Of 70 current holders: 51 (73%) 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.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
13 of 70 holders rank in the top 100 by AUM, accounting for 39% 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.