Based on 44 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added EIC 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
44 hedge funds hold EIC 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 — +100% more funds vs a year ago
fund count last 6Q
+22 new funds entered over the past year (+100% 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 — 76% buying
32 buying10 selling
Last quarter: 32 funds were net buyers (17 opened a brand new position + 15 added to an existing one). Only 10 were sellers (5 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new EIC position: 14 → 9 → 9 → 17. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 57% entered in last year
■ 16% conviction (2yr+)
■ 27% medium
■ 57% new
Only 7 funds (16%) 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.
💎
Buying through price weakness — shares +8%, value -9%
Last quarter: funds added +8% more shares while total portfolio value only changed -9%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
5 → 14 → 9 → 9 → 17 new funds/Q
New funds entering each quarter: 14 → 9 → 9 → 17. A growing number of institutions are discovering EIC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 68% of holders entered in last year
■ 25% veterans
■ 7% 1-2yr
■ 68% new
Of 44 current holders: 30 (68%) entered in the past year, only 11 (25%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
5 of 44 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
5.1
out of 10
Moderate Exit Risk
Exit risk score 5.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.