Based on 93 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ELDN 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
93 hedge funds hold ELDN 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 — +27% more funds vs a year ago
fund count last 6Q
+20 new funds entered over the past year (+27% 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 — 63% buying
64 buying37 selling
Last quarter: 64 funds were net buyers (32 opened a brand new position + 32 added to an existing one). Only 37 were sellers (16 trimmed + 21 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+11 vs last Q)
new funds entering per quarter
Funds opening a new ELDN position: 18 → 28 → 21 → 32. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 29% long-term, 52% new
■ 29% conviction (2yr+)
■ 19% medium
■ 52% new
Of the 93 current holders: 27 (29%) held >2 years, 18 held 1–2 years, and 48 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.
💎
Buying through price weakness — shares +20%, value -97%
Last quarter: funds added +20% more shares while total portfolio value only changed -97%. 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
43 → 18 → 28 → 21 → 32 new funds/Q
New funds entering each quarter: 18 → 28 → 21 → 32. A growing number of institutions are discovering ELDN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 60% of holders entered in last year
■ 35% veterans
■ 5% 1-2yr
■ 60% new
Of 95 current holders: 57 (60%) entered in the past year, only 33 (35%) 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.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
24 of 93 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.