Based on 115 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added ECC 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
115 hedge funds hold ECC 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 — +17% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 57% buying
62 buying47 selling
Last quarter: 62 funds bought or added vs 47 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.
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Steady new buyers — ~23 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 27 → 19 → 23. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 38% long-term, 27% new
■ 38% conviction (2yr+)
■ 35% medium
■ 27% new
Of the 115 current holders: 44 (38%) held >2 years, 40 held 1–2 years, and 31 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Steady discovery — ~23 new funds/quarter
25 → 14 → 27 → 19 → 23 new funds/Q
New funds entering each quarter: 14 → 27 → 19 → 23. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 49% of holders stayed 2+ years
■ 49% veterans
■ 10% 1-2yr
■ 41% new
Of 115 current holders: 56 (49%) 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.
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Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
10 of 115 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.