Based on 78 hedge funds · latest filing: 2025 Q4 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊
High ownership — 89% of 3.0Y peak
89% of all-time peak
78 funds currently hold this stock — 89% of the 3.0-year high of 88 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +15% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 47% buying
44 buying49 selling
Last quarter: 49 funds reduced or exited vs 44 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.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new EH position: 27 → 19 → 14 → 20. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 22% medium
■ 23% new
43 out of 78 hedge funds have held EH 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.
💎
Buying through price weakness — shares -10%, value -35%
Last quarter: funds added -10% more shares while total portfolio value only changed -35%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
19 → 27 → 19 → 14 → 20 new funds/Q
New funds entering each quarter: 27 → 19 → 14 → 20. EH is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 61% of holders stayed 2+ years
■ 61% veterans
■ 9% 1-2yr
■ 30% new
Of 93 current holders: 57 (61%) 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.
✅
Strong quality — 25% AUM from major funds
25% from top-100 AUM funds
20 of 78 holders rank in the top 100 by AUM, accounting for 25% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.