Based on 193 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added IART 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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High ownership — 74% of 3.0Y peak
74% of all-time peak
193 funds currently hold this stock — 74% of the 3.0-year high of 260 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 6% fewer funds vs a year ago
fund count last 6Q
12 fewer hedge funds hold IART compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 50% buying
101 buying103 selling
Last quarter: 101 funds bought or added vs 103 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 — ~34 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 29 → 36 → 30 → 34. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 18% medium
■ 16% new
127 out of 193 hedge funds have held IART 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 — ~34 new funds/quarter
35 → 29 → 36 → 30 → 34 new funds/Q
New funds entering each quarter: 29 → 36 → 30 → 34. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 10% 1-2yr
■ 19% new
Of 193 current holders: 137 (71%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
36 of 193 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in IART. 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 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.