Based on 65 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 WDI 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 — 93% of 3.0Y peak
93% of all-time peak
65 funds currently hold this stock — 93% of the 3.0-year high of 70 funds (reached 2025 Q4). 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 WDI is almost the same as a year ago (-1 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 54% buying
38 buying32 selling
Last quarter: 38 funds bought or added vs 32 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 (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 11 → 6 → 15 → 8. 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.
🔒
48% of holders stayed for 2+ years
■ 48% conviction (2yr+)
■ 29% medium
■ 23% new
31 out of 65 hedge funds have held WDI 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 -3%, value -22%
Last quarter: funds added -3% more shares while total portfolio value only changed -22%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~8 new funds/quarter
14 → 11 → 6 → 15 → 8 new funds/Q
New funds entering each quarter: 11 → 6 → 15 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 49% veterans vs 34% newcomers
■ 49% veterans
■ 17% 1-2yr
■ 34% new
Entry-cohort mix of 65 holders: 32 (49%) are 2+ year veterans, 11 entered 1–2 years ago, and 22 (34%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 69% AUM from top-100 funds
69% from top-100 AUM funds
10 of 65 holders are among the 100 largest funds by AUM, controlling 69% of total institutional value in WDI. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.