Based on 87 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added EWD 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.
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At the ownership peak (100% of max)
100% of all-time peak
87 hedge funds hold EWD 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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Fast accumulation — +24% more funds vs a year ago
fund count last 6Q
+17 new funds entered over the past year (+24% 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.
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More buyers than sellers — 60% buying
45 buying30 selling
Last quarter: 45 funds were net buyers (21 opened a brand new position + 24 added to an existing one). Only 30 were sellers (24 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new EWD position: 20 → 8 → 8 → 21. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 23% medium
■ 13% new
56 out of 87 hedge funds have held EWD 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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Steady discovery — ~21 new funds/quarter
10 → 20 → 8 → 8 → 21 new funds/Q
New funds entering each quarter: 20 → 8 → 8 → 21. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 15% 1-2yr
■ 14% new
Of 87 current holders: 62 (71%) 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.
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Elite ownership — 57% AUM from top-100 funds
57% from top-100 AUM funds
16 of 87 holders are among the 100 largest funds by AUM, controlling 57% of total institutional value in EWD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.