Based on 126 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ENTA 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 (98% of max)
98% of all-time peak
126 hedge funds hold ENTA 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 — +20% more funds vs a year ago
fund count last 6Q
+21 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 60% buying
84 buying55 selling
Last quarter: 84 funds were net buyers (35 opened a brand new position + 49 added to an existing one). Only 55 were sellers (28 trimmed + 27 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new ENTA position: 19 → 11 → 25 → 35. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 19% medium
■ 14% new
84 out of 126 hedge funds have held ENTA 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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Buying through price weakness — shares +37%, value -89%
Last quarter: funds added +37% more shares while total portfolio value only changed -89%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
22 → 19 → 11 → 25 → 35 new funds/Q
New funds entering each quarter: 19 → 11 → 25 → 35. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 77% of holders stayed 2+ years
■ 77% veterans
■ 8% 1-2yr
■ 15% new
Of 128 current holders: 99 (77%) 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.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
28 of 126 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.