Based on 486 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added ECG 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
486 hedge funds hold ECG 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.
🚀
Fast accumulation — +58% more funds vs a year ago
fund count last 6Q
+178 new funds entered over the past year (+58% 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.
🟡
Slight buying edge — 55% buying
236 buying191 selling
Last quarter: 236 funds bought or added vs 191 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.
⚠️
Fewer new buyers each quarter (-9 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 77 → 83 → 92 → 83. 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 — 39% entered in last year
■ 2% conviction (2yr+)
■ 59% medium
■ 39% new
Only 8 funds (2%) 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.
💰
Price up while funds trimmed (+26% value, -2% shares)
Last quarter: total value of institutional ECG holdings rose +26% even though funds reduced share count by 2%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~83 new funds/quarter
81 → 77 → 83 → 92 → 83 new funds/Q
New funds entering each quarter: 77 → 83 → 92 → 83. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 2% veterans, 53% new entrants
■ 2% veterans
■ 44% 1-2yr
■ 53% new
Of 493 current holders: 11 (2%) held 2+ years, 219 held 1–2 years, 263 (53%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
55 of 485 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.