Based on 174 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added ENIC 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
174 hedge funds hold ENIC 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.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+21 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 65% buying
100 buying53 selling
Last quarter: 100 funds were net buyers (27 opened a brand new position + 73 added to an existing one). Only 53 were sellers (37 trimmed + 16 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~27 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 15 → 32 → 27. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 24% medium
■ 22% new
95 out of 174 hedge funds have held ENIC 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.
💎
Buying through price weakness — shares +5%, value -17%
Last quarter: funds added +5% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
28 → 19 → 15 → 32 → 27 new funds/Q
New funds entering each quarter: 19 → 15 → 32 → 27. 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.
🏛️
Veteran-anchored — 66% veterans vs 23% newcomers
■ 66% veterans
■ 11% 1-2yr
■ 23% new
Entry-cohort mix of 174 holders: 115 (66%) are 2+ year veterans, 19 entered 1–2 years ago, and 40 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
32 of 174 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.