Based on 17 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added EMCR 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.
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At the ownership peak (100% of max)
100% of all-time peak
17 hedge funds hold EMCR 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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Steady growth — +6% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 2 quarters from the low — a sharp move.
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More buyers than sellers — 71% buying
10 buying4 selling
Last quarter: 10 funds were net buyers (2 opened a brand new position + 8 added to an existing one). Only 4 were sellers (4 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 29% medium
■ 24% new
8 out of 17 hedge funds have held EMCR 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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Value +33% but shares only +8% — price-driven
Last quarter: the total dollar value of institutional holdings rose +33%, but actual share count only changed +8%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Peak discovery — momentum slowing
5 → 2 → 3 → 2 → 2 new funds/Q
New funds entering each quarter: 2 → 3 → 2 → 2. EMCR is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Veteran-anchored — 53% veterans vs 35% newcomers
■ 53% veterans
■ 12% 1-2yr
■ 35% new
Entry-cohort mix of 17 holders: 9 (53%) are 2+ year veterans, 2 entered 1–2 years ago, and 6 (35%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 56% AUM from top-100 funds
56% from top-100 AUM funds
6 of 16 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in EMCR. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.