Based on 896 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their EFG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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At the ownership peak (98% of max)
98% of all-time peak
896 hedge funds hold EFG 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding EFG is almost the same as a year ago (-16 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 46% buying
397 buying465 selling
Last quarter: 465 funds reduced or exited vs 397 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.
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More new buyers each quarter (+24 vs last Q)
new funds entering per quarter
Funds opening a new EFG position: 74 → 80 → 79 → 103. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 22% medium
■ 14% new
578 out of 896 hedge funds have held EFG 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.
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Growing discovery — still being found
121 → 74 → 80 → 79 → 103 new funds/Q
New funds entering each quarter: 74 → 80 → 79 → 103. A growing number of institutions are discovering EFG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 64% of holders stayed 2+ years
■ 64% veterans
■ 14% 1-2yr
■ 21% new
Of 896 current holders: 576 (64%) 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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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
26 of 896 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in EFG. 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.