Based on 23 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added EAOA 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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At the ownership peak (100% of max)
100% of all-time peak
23 hedge funds hold EAOA 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.
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Steady growth — +5% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 80% buying
16 buying4 selling
Last quarter: 16 funds were net buyers (4 opened a brand new position + 12 added to an existing one). Only 4 were sellers (1 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 4 → 3 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 26% medium
■ 22% new
12 out of 23 hedge funds have held EAOA 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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Steady discovery — ~4 new funds/quarter
6 → 2 → 4 → 3 → 4 new funds/Q
New funds entering each quarter: 2 → 4 → 3 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 57% veterans vs 26% newcomers
■ 57% veterans
■ 17% 1-2yr
■ 26% new
Entry-cohort mix of 23 holders: 13 (57%) are 2+ year veterans, 4 entered 1–2 years ago, and 6 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
4 of 23 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.