Based on 161 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added IAUX 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
161 hedge funds hold IAUX 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.
🚀
Fast accumulation — +31% more funds vs a year ago
fund count last 6Q
+38 new funds entered over the past year (+31% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 65% buying
89 buying47 selling
Last quarter: 89 funds were net buyers (51 opened a brand new position + 38 added to an existing one). Only 47 were sellers (29 trimmed + 18 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+24 vs last Q)
new funds entering per quarter
Funds opening a new IAUX position: 27 → 49 → 27 → 51. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 29% long-term, 42% new
■ 29% conviction (2yr+)
■ 29% medium
■ 42% new
Of the 161 current holders: 46 (29%) held >2 years, 47 held 1–2 years, and 68 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.
💰
Value +61% but shares only +5% — price-driven
Last quarter: the total dollar value of institutional holdings rose +61%, but actual share count only changed +5%. 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.
➡️
Steady discovery — ~51 new funds/quarter
26 → 27 → 49 → 27 → 51 new funds/Q
New funds entering each quarter: 27 → 49 → 27 → 51. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 37% veterans, 45% new entrants
■ 37% veterans
■ 18% 1-2yr
■ 45% new
Of 161 current holders: 60 (37%) held 2+ years, 29 held 1–2 years, 72 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
22 of 161 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.