Based on 193 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 EWTX 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 (99% of max)
99% of all-time peak
193 hedge funds hold EWTX 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding EWTX is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 60% buying
114 buying77 selling
Last quarter: 114 funds were net buyers (47 opened a brand new position + 67 added to an existing one). Only 77 were sellers (58 trimmed + 19 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+28 vs last Q)
new funds entering per quarter
Funds opening a new EWTX position: 33 → 29 → 19 → 47. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
45% of holders stayed for 2+ years
■ 45% conviction (2yr+)
■ 32% medium
■ 23% new
87 out of 193 hedge funds have held EWTX 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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Value +67% but shares only +9% — price-driven
Last quarter: the total dollar value of institutional holdings rose +67%, but actual share count only changed +9%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~47 new funds/quarter
43 → 33 → 29 → 19 → 47 new funds/Q
New funds entering each quarter: 33 → 29 → 19 → 47. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 45% of holders stayed 2+ years
■ 45% veterans
■ 25% 1-2yr
■ 30% new
Of 203 current holders: 92 (45%) 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 — 23% AUM from major funds
23% from top-100 AUM funds
31 of 193 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.