Based on 31 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ECLN 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
31 hedge funds hold ECLN 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 — +72% more funds vs a year ago
fund count last 6Q
+13 new funds entered over the past year (+72% 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.
🟢
More buyers than sellers — 64% buying
16 buying9 selling
Last quarter: 16 funds were net buyers (7 opened a brand new position + 9 added to an existing one). Only 9 were sellers (3 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 4 → 6 → 13 → 7. 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.
📌
Mixed — 39% long-term, 42% new
■ 39% conviction (2yr+)
■ 19% medium
■ 42% new
Of the 31 current holders: 12 (39%) held >2 years, 6 held 1–2 years, and 13 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.
➡️
Steady discovery — ~7 new funds/quarter
2 → 4 → 6 → 13 → 7 new funds/Q
New funds entering each quarter: 4 → 6 → 13 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 42% veterans vs 45% newcomers
■ 42% veterans
■ 13% 1-2yr
■ 45% new
Entry-cohort mix of 31 holders: 13 (42%) are 2+ year veterans, 4 entered 1–2 years ago, and 14 (45%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 27% AUM from major funds
27% from top-100 AUM funds
4 of 31 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.3
out of 10
Moderate Exit Risk
Exit risk score 5.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.