Based on 95 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added WBTN 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
95 hedge funds hold WBTN 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 — +10% more funds vs a year ago
fund count last 6Q
+9 new funds entered over the past year (+10% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 58% buying
60 buying44 selling
Last quarter: 60 funds bought or added vs 44 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.
📈
More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new WBTN position: 18 → 25 → 16 → 27. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 40% entered in last year
■ 4% conviction (2yr+)
■ 56% medium
■ 40% new
Only 4 funds (4%) 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 -27%
Last quarter: funds added +3% 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 — ~27 new funds/quarter
35 → 18 → 25 → 16 → 27 new funds/Q
New funds entering each quarter: 18 → 25 → 16 → 27. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 5% veterans, 54% new entrants
■ 5% veterans
■ 41% 1-2yr
■ 54% new
Of 95 current holders: 5 (5%) held 2+ years, 39 held 1–2 years, 51 (54%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
33 of 95 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.