Based on 18 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added TWM than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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High ownership — 78% of 3.0Y peak
78% of all-time peak
18 funds currently hold this stock — 78% of the 3.0-year high of 23 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold TWM compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 68% buying
13 buying6 selling
Last quarter: 13 funds were net buyers (7 opened a brand new position + 6 added to an existing one). Only 6 were sellers (5 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 6 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 22% medium
■ 22% new
10 out of 18 hedge funds have held TWM 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.
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Buying through price weakness — shares +224%, value +202%
Last quarter: funds added +224% more shares while total portfolio value only changed +202%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~7 new funds/quarter
6 → 2 → 2 → 6 → 7 new funds/Q
New funds entering each quarter: 2 → 2 → 6 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 76% veterans vs 19% newcomers
■ 76% veterans
■ 5% 1-2yr
■ 19% new
Entry-cohort mix of 21 holders: 16 (76%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 13% AUM from top-100
13% from top-100 AUM funds
4 of 17 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.