Based on 252 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 EPAC 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 (97% of max)
97% of all-time peak
252 hedge funds hold EPAC 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 EPAC is almost the same as a year ago (+1 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 52% buying
131 buying122 selling
Last quarter: 131 funds bought or added vs 122 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~38 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 40 → 31 → 42 → 38. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 25% medium
■ 19% new
141 out of 252 hedge funds have held EPAC 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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Growing discovery — still being found
34 → 40 → 31 → 42 → 38 new funds/Q
New funds entering each quarter: 40 → 31 → 42 → 38. A growing number of institutions are discovering EPAC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 62% veterans vs 22% newcomers
■ 62% veterans
■ 16% 1-2yr
■ 22% new
Entry-cohort mix of 252 holders: 157 (62%) are 2+ year veterans, 40 entered 1–2 years ago, and 55 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
48 of 252 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in EPAC. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.