Based on 176 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added EGHT 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 (99% of max)
99% of all-time peak
176 hedge funds hold EGHT 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
+34 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 — 64% buying
113 buying63 selling
Last quarter: 113 funds were net buyers (34 opened a brand new position + 79 added to an existing one). Only 63 were sellers (40 trimmed + 23 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 EGHT position: 24 → 17 → 27 → 34. 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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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 23% medium
■ 17% new
106 out of 176 hedge funds have held EGHT 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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Buying through price weakness — shares -0%, value -42%
Last quarter: funds added -0% more shares while total portfolio value only changed -42%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
18 → 24 → 17 → 27 → 34 new funds/Q
New funds entering each quarter: 24 → 17 → 27 → 34. A growing number of institutions are discovering EGHT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 69% veterans vs 16% newcomers
■ 69% veterans
■ 15% 1-2yr
■ 16% new
Entry-cohort mix of 177 holders: 122 (69%) are 2+ year veterans, 27 entered 1–2 years ago, and 28 (16%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
42 of 175 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.