Based on 45 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their EAGL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 49% of 3.0Y high
49% of all-time peak
Only 45 funds hold EAGL today versus a peak of 92 funds at 2006 Q4 — just 49% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
🚀
Fast accumulation — +45% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+45% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 63% buying
26 buying15 selling
Last quarter: 26 funds were net buyers (5 opened a brand new position + 21 added to an existing one). Only 15 were sellers (8 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 8 → 6 → 11 → 5. 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 — 31% entered in last year
■ 13% conviction (2yr+)
■ 56% medium
■ 31% new
Only 6 funds (13%) 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.
➡️
Steady discovery — ~5 new funds/quarter
9 → 8 → 6 → 11 → 5 new funds/Q
New funds entering each quarter: 8 → 6 → 11 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 13% veterans, 51% new entrants
■ 13% veterans
■ 36% 1-2yr
■ 51% new
Of 45 current holders: 6 (13%) held 2+ years, 16 held 1–2 years, 23 (51%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
8 of 45 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.