Based on 92 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 — 88% of 3.0Y peak
88% of all-time peak
92 funds currently hold this stock — 88% of the 3.0-year high of 105 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 12% fewer funds vs a year ago
fund count last 6Q
13 fewer hedge funds hold EMD compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 60% buying
52 buying34 selling
Last quarter: 52 funds were net buyers (11 opened a brand new position + 41 added to an existing one). Only 34 were sellers (23 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 4 → 12 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 24% medium
■ 10% new
61 out of 92 hedge funds have held EMD 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.
📈
Growing discovery — still being found
21 → 11 → 4 → 12 → 11 new funds/Q
New funds entering each quarter: 11 → 4 → 12 → 11. A growing number of institutions are discovering EMD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 70% of holders stayed 2+ years
■ 70% veterans
■ 12% 1-2yr
■ 18% new
Of 92 current holders: 64 (70%) 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.
🏆
Elite ownership — 64% AUM from top-100 funds
64% from top-100 AUM funds
10 of 92 holders are among the 100 largest funds by AUM, controlling 64% of total institutional value in EMD. 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 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.