Based on 34 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ECON 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
34 hedge funds hold ECON 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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Steady growth — +6% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 64% buying
16 buying9 selling
Last quarter: 16 funds were net buyers (9 opened a brand new position + 7 added to an existing one). Only 9 were sellers (4 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new ECON position: 2 → 6 → 2 → 9. 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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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 24% medium
■ 9% new
23 out of 34 hedge funds have held ECON 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 — ~9 new funds/quarter
4 → 2 → 6 → 2 → 9 new funds/Q
New funds entering each quarter: 2 → 6 → 2 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 74% veterans vs 18% newcomers
■ 74% veterans
■ 9% 1-2yr
■ 18% new
Entry-cohort mix of 34 holders: 25 (74%) are 2+ year veterans, 3 entered 1–2 years ago, and 6 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
15 of 34 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in ECON. 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.