Based on 209 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added EXPI 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.
📊
High ownership — 88% of 3.0Y peak
88% of all-time peak
209 funds currently hold this stock — 88% of the 3.0-year high of 237 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 8% fewer funds vs a year ago
fund count last 6Q
18 fewer hedge funds hold EXPI compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 52% buying
110 buying100 selling
Last quarter: 110 funds bought or added vs 100 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.
➡️
Steady new buyers — ~35 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 40 → 25 → 32 → 35. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 22% medium
■ 16% new
129 out of 209 hedge funds have held EXPI 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.
➡️
Steady discovery — ~35 new funds/quarter
38 → 40 → 25 → 32 → 35 new funds/Q
New funds entering each quarter: 40 → 25 → 32 → 35. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 13% 1-2yr
■ 19% new
Of 215 current holders: 147 (68%) 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.
🏆
Elite ownership — 60% AUM from top-100 funds
60% from top-100 AUM funds
35 of 209 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in EXPI. 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.