Based on 20 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added EMM 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
20 hedge funds hold EMM 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 — +100% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+100% 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 — 64% buying
9 buying5 selling
Last quarter: 9 funds were net buyers (3 opened a brand new position + 6 added to an existing one). Only 5 were sellers (5 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 3 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 30% long-term, 35% new
■ 30% conviction (2yr+)
■ 35% medium
■ 35% new
Of the 20 current holders: 6 (30%) held >2 years, 7 held 1–2 years, and 7 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.
💰
Price up while funds trimmed (+20% value, -8% shares)
Last quarter: total value of institutional EMM holdings rose +20% even though funds reduced share count by 8%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~3 new funds/quarter
1 → 3 → 3 → 4 → 3 new funds/Q
New funds entering each quarter: 3 → 3 → 4 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 35% veterans, 35% new entrants
■ 35% veterans
■ 30% 1-2yr
■ 35% new
Of 20 current holders: 7 (35%) held 2+ years, 6 held 1–2 years, 7 (35%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 40% AUM from top-100 funds
40% from top-100 AUM funds
6 of 20 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in EMM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.