Based on 63 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their WKHS 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 36% of 3.0Y high
36% of all-time peak
Only 63 funds hold WKHS today versus a peak of 175 funds at 2023 Q1 — just 36% 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.
🚀
Fast accumulation — +3050% more funds vs a year ago
fund count last 6Q
+61 new funds entered over the past year (+3050% 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.
🔴
Heavy selling pressure — only 31% buying
22 buying48 selling
Last quarter: 48 funds sold vs only 22 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~14 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 56 → 9 → 10 → 14. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 24% medium
■ 13% new
40 out of 63 hedge funds have held WKHS 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.
💰
Price up while funds trimmed (+19% value, -78% shares)
Last quarter: total value of institutional WKHS holdings rose +19% even though funds reduced share count by 78%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
⚠️
Saturation — most institutions already know this story
0 → 56 → 9 → 10 → 14 new funds/Q
New funds entering each quarter: 56 → 9 → 10 → 14. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 75% of holders stayed 2+ years
■ 75% veterans
■ 3% 1-2yr
■ 22% new
Of 65 current holders: 49 (75%) 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
11 of 63 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 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.