Based on 176 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added EBS 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
176 hedge funds hold EBS 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 — +14% more funds vs a year ago
fund count last 6Q
+22 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 56% buying
102 buying80 selling
Last quarter: 102 funds bought or added vs 80 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.
➡️
Steady new buyers — ~39 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 34 → 39 → 37 → 39. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 17% medium
■ 22% new
107 out of 176 hedge funds have held EBS 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.
💰
Value +51% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +51%, but actual share count only changed +3%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~39 new funds/quarter
36 → 34 → 39 → 37 → 39 new funds/Q
New funds entering each quarter: 34 → 39 → 37 → 39. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 5% 1-2yr
■ 24% new
Of 184 current holders: 130 (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 — 43% AUM from top-100 funds
43% from top-100 AUM funds
32 of 176 holders are among the 100 largest funds by AUM, controlling 43% of total institutional value in EBS. 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.