Based on 123 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 EWH 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
123 hedge funds hold EWH 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 — +13% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 54% buying
66 buying57 selling
Last quarter: 66 funds bought or added vs 57 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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More new buyers each quarter (+12 vs last Q)
new funds entering per quarter
Funds opening a new EWH position: 19 → 24 → 17 → 29. 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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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 22% medium
■ 16% new
76 out of 123 hedge funds have held EWH 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 — ~29 new funds/quarter
26 → 19 → 24 → 17 → 29 new funds/Q
New funds entering each quarter: 19 → 24 → 17 → 29. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 65% veterans vs 25% newcomers
■ 65% veterans
■ 10% 1-2yr
■ 25% new
Entry-cohort mix of 123 holders: 80 (65%) are 2+ year veterans, 12 entered 1–2 years ago, and 31 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 17% AUM from top-100
17% from top-100 AUM funds
20 of 118 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.