Based on 43 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added EVO 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
43 hedge funds hold EVO 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 — +79% more funds vs a year ago
fund count last 6Q
+19 new funds entered over the past year (+79% 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.
🟡
Slight buying edge — 55% buying
23 buying19 selling
Last quarter: 23 funds bought or added vs 19 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈
More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new EVO position: 4 → 16 → 8 → 18. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 26% long-term, 51% new
■ 26% conviction (2yr+)
■ 23% medium
■ 51% new
Of the 43 current holders: 11 (26%) held >2 years, 10 held 1–2 years, and 22 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.
📈
Growing discovery — still being found
6 → 4 → 16 → 8 → 18 new funds/Q
New funds entering each quarter: 4 → 16 → 8 → 18. A growing number of institutions are discovering EVO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 42% of holders stayed 2+ years
■ 42% veterans
■ 12% 1-2yr
■ 47% new
Of 43 current holders: 18 (42%) 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 — 24% AUM from major funds
24% from top-100 AUM funds
8 of 43 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.2
out of 10
Moderate Exit Risk
Exit risk score 5.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.