Based on 47 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 GWH 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 — 89% of 1.8Y peak
89% of all-time peak
47 funds currently hold this stock — 89% of the 1.8-year high of 53 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +7% more funds vs a year ago
fund count last 6Q
+3 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.
🟡
Slight buying edge — 50% buying
21 buying21 selling
Last quarter: 21 funds bought or added vs 21 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 5 → 8 → 18 → 10. 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 — 43% entered in last year
■ 0% conviction (2yr+)
■ 57% medium
■ 43% new
Only 0 funds (0%) 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 +19%, value -27%
Last quarter: funds added +19% more shares while total portfolio value only changed -27%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~10 new funds/quarter
3 → 5 → 8 → 18 → 10 new funds/Q
New funds entering each quarter: 5 → 8 → 18 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 0% veterans, 45% new entrants
■ 0% veterans
■ 55% 1-2yr
■ 45% new
Of 47 current holders: 0 (0%) held 2+ years, 26 held 1–2 years, 21 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 7% AUM from top-100
7% from top-100 AUM funds
11 of 47 holders rank in the top 100 by AUM, but together hold only 7% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.