Based on 1154 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 EBAY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (99% of max)
99% of all-time peak
1,154 hedge funds hold EBAY 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 — +16% more funds vs a year ago
fund count last 6Q
+155 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 47% buying
546 buying614 selling
Last quarter: 614 funds reduced or exited vs 546 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-19 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 148 → 156 → 164 → 145. 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.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 17% medium
■ 15% new
779 out of 1,154 hedge funds have held EBAY 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.
➡️
Steady discovery — ~145 new funds/quarter
111 → 148 → 156 → 164 → 145 new funds/Q
New funds entering each quarter: 148 → 156 → 164 → 145. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 10% 1-2yr
■ 20% new
Of 1,203 current holders: 850 (71%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
48 of 1154 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in EBAY. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.