Based on 137 hedge funds · latest filing: 2026 Q1 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
137 hedge funds hold DWX 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.
📶
Steady growth — +7% more funds vs a year ago
fund count last 6Q
+9 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 46% buying
56 buying65 selling
Last quarter: 65 funds reduced or exited vs 56 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.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new DWX position: 25 → 12 → 11 → 20. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
72% of holders stayed for 2+ years
■ 72% conviction (2yr+)
■ 10% medium
■ 18% new
99 out of 137 hedge funds have held DWX 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.
📊
Peak discovery — momentum slowing
13 → 25 → 12 → 11 → 20 new funds/Q
New funds entering each quarter: 25 → 12 → 11 → 20. DWX is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 73% veterans vs 17% newcomers
■ 73% veterans
■ 10% 1-2yr
■ 17% new
Entry-cohort mix of 137 holders: 100 (73%) are 2+ year veterans, 14 entered 1–2 years ago, and 23 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
18 of 137 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in DWX. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.