Based on 78 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 WW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 85% of 3.0Y peak
85% of all-time peak
78 funds currently hold this stock — 85% of the 3.0-year high of 92 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +7700% more funds vs a year ago
fund count last 6Q
+77 new funds entered over the past year (+7700% 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.
🟠
More sellers than buyers — 41% buying
36 buying51 selling
Last quarter: 51 funds reduced or exited vs 36 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.
⚠️
Fewer new buyers each quarter (-9 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 2 → 88 → 25 → 16. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 95% entered in last year
■ 1% conviction (2yr+)
■ 4% medium
■ 95% new
Only 1 funds (1%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares +3%, value -93%
Last quarter: funds added +3% more shares while total portfolio value only changed -93%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
0 → 2 → 88 → 25 → 16 new funds/Q
New funds entering each quarter: 2 → 88 → 25 → 16. WW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 100% of holders entered in last year
■ 0% veterans
■ 0% 1-2yr
■ 100% new
Of 80 current holders: 80 (100%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
19 of 76 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 7.1/10 — multiple crowding signals converge. Institutional ownership is at 85% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 41% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.