Based on 34 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added QEMM 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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High ownership — 92% of 3.0Y peak
92% of all-time peak
34 funds currently hold this stock — 92% of the 3.0-year high of 37 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 8% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold QEMM compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 69% buying
18 buying8 selling
Last quarter: 18 funds were net buyers (4 opened a brand new position + 14 added to an existing one). Only 8 were sellers (6 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 3 → 3 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 12% medium
■ 24% new
22 out of 34 hedge funds have held QEMM 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 +48% but shares only +26% — price-driven
Last quarter: the total dollar value of institutional holdings rose +48%, but actual share count only changed +26%. 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 — ~4 new funds/quarter
7 → 5 → 3 → 3 → 4 new funds/Q
New funds entering each quarter: 5 → 3 → 3 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 65% veterans vs 26% newcomers
■ 65% veterans
■ 9% 1-2yr
■ 26% new
Entry-cohort mix of 34 holders: 22 (65%) are 2+ year veterans, 3 entered 1–2 years ago, and 9 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
6 of 34 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in QEMM. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.