Assenagon Asset Management Reduces Stake in Western Digital

Hedge fund cuts position in data storage company by over 40% in Q4

Mar. 29, 2026 at 7:20am

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Assenagon Asset Management S.A. reduced its stake in shares of Western Digital Corporation (NASDAQ:WDC) by 40.6% in the fourth quarter, according to a recent disclosure with the Securities and Exchange Commission. The firm now owns 35,900 shares of the data storage provider's stock, down from 60,423 shares previously.

Why it matters

This reduction in Assenagon's Western Digital holdings reflects broader trends in the data storage industry, as investors weigh factors like supply chain challenges, macroeconomic conditions, and the shift towards solid-state drives. The filing provides insight into how major institutional investors are positioning themselves in the sector.

The details

According to the SEC filing, Assenagon Asset Management sold 24,523 shares of Western Digital during the fourth quarter. The firm's remaining stake in the company is valued at $6,184,000. Western Digital's stock price has fluctuated significantly over the past year, reaching a 52-week high of $319.62 in February 2023 before pulling back.

  • Assenagon reduced its Western Digital stake in the fourth quarter of 2022.
  • Western Digital's stock price hit a 52-week high of $319.62 in February 2023.

The players

Assenagon Asset Management S.A.

A global investment management firm that reduced its stake in Western Digital Corporation.

Western Digital Corporation

A leading data storage provider that manufactures hard disk drives (HDDs) and solid-state drives (SSDs).

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The takeaway

This filing highlights the volatility and uncertainty in the data storage market, as major investors like Assenagon adjust their positions in response to industry trends and macroeconomic factors. The reduction in Assenagon's Western Digital stake suggests a cautious outlook, even as the company's stock has reached new highs in recent months.