Based on 231 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 WWW 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 — 91% of 3.0Y peak
91% of all-time peak
231 funds currently hold this stock — 91% of the 3.0-year high of 253 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding WWW is almost the same as a year ago (-2 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 42% buying
117 buying160 selling
Last quarter: 160 funds reduced or exited vs 117 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 (-30 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 45 → 41 → 72 → 42. 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.
🔒
66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 15% medium
■ 19% new
153 out of 231 hedge funds have held WWW 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.
💎
Buying through price weakness — shares -8%, value -39%
Last quarter: funds added -8% more shares while total portfolio value only changed -39%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
53 → 45 → 41 → 72 → 42 new funds/Q
New funds entering each quarter: 45 → 41 → 72 → 42. A growing number of institutions are discovering WWW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 73% of holders stayed 2+ years
■ 73% veterans
■ 7% 1-2yr
■ 20% new
Of 235 current holders: 172 (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.
🏆
Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
41 of 231 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in WWW. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.