Based on 105 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added EMHC 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
105 hedge funds hold EMHC 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 — +38% more funds vs a year ago
fund count last 6Q
+29 new funds entered over the past year (+38% 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
84 buying23 selling
Last quarter: 84 funds were net buyers (19 opened a brand new position + 65 added to an existing one). Only 23 were sellers (13 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~19 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 13 → 15 → 17 → 19. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
40% of holders stayed for 2+ years
■ 40% conviction (2yr+)
■ 29% medium
■ 31% new
42 out of 105 hedge funds have held EMHC 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
10 → 13 → 15 → 17 → 19 new funds/Q
New funds entering each quarter: 13 → 15 → 17 → 19. A growing number of institutions are discovering EMHC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 35% veterans, 40% new entrants
■ 35% veterans
■ 25% 1-2yr
■ 40% new
Of 105 current holders: 37 (35%) held 2+ years, 26 held 1–2 years, 42 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
11 of 105 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.