Based on 113 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added EMO 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
113 hedge funds hold EMO 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 EMO is almost the same as a year ago (+3 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
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More buyers than sellers — 61% buying
64 buying41 selling
Last quarter: 64 funds were net buyers (24 opened a brand new position + 40 added to an existing one). Only 41 were sellers (22 trimmed + 19 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~24 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 11 → 19 → 24. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 36% long-term, 27% new
■ 36% conviction (2yr+)
■ 36% medium
■ 27% new
Of the 113 current holders: 41 (36%) held >2 years, 41 held 1–2 years, and 31 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Value +2034% but shares only +26% — price-driven
Last quarter: the total dollar value of institutional holdings rose +2034%, 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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Acceleration phase — new buyers rushing in
23 → 9 → 11 → 19 → 24 new funds/Q
New funds entering each quarter: 9 → 11 → 19 → 24. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Mixed cohorts — 39% veterans, 33% new entrants
■ 39% veterans
■ 28% 1-2yr
■ 33% new
Of 113 current holders: 44 (39%) held 2+ years, 32 held 1–2 years, 37 (33%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 97% AUM from top-100 funds
97% from top-100 AUM funds
14 of 113 holders are among the 100 largest funds by AUM, controlling 97% of total institutional value in EMO. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.