Based on 14 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added EMDM 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
14 hedge funds hold EMDM 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 — +180% more funds vs a year ago
fund count last 6Q
+9 new funds entered over the past year (+180% 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 — 79% buying
11 buying3 selling
Last quarter: 11 funds were net buyers (7 opened a brand new position + 4 added to an existing one). Only 3 were sellers (1 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 1 → 4 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 50% entered in last year
■ 21% conviction (2yr+)
■ 29% medium
■ 50% new
Only 3 funds (21%) 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.
➡️
Steady discovery — ~7 new funds/quarter
0 → 0 → 1 → 4 → 7 new funds/Q
New funds entering each quarter: 0 → 1 → 4 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 21% veterans, 50% new entrants
■ 21% veterans
■ 29% 1-2yr
■ 50% new
Of 14 current holders: 3 (21%) held 2+ years, 4 held 1–2 years, 7 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
3 of 14 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.2
out of 10
Moderate Exit Risk
Exit risk score 6.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.