Based on 243 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added IBDW 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
243 hedge funds hold IBDW 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 — +49% more funds vs a year ago
fund count last 6Q
+80 new funds entered over the past year (+49% 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 — 78% buying
178 buying50 selling
Last quarter: 178 funds were net buyers (38 opened a brand new position + 140 added to an existing one). Only 50 were sellers (37 trimmed + 13 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening a new IBDW position: 31 → 30 → 30 → 38. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 35% long-term, 33% new
■ 35% conviction (2yr+)
■ 33% medium
■ 33% new
Of the 243 current holders: 85 (35%) held >2 years, 79 held 1–2 years, and 79 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.
📈
Growing discovery — still being found
28 → 31 → 30 → 30 → 38 new funds/Q
New funds entering each quarter: 31 → 30 → 30 → 38. A growing number of institutions are discovering IBDW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 26% veterans, 46% new entrants
■ 26% veterans
■ 28% 1-2yr
■ 46% new
Of 243 current holders: 63 (26%) held 2+ years, 68 held 1–2 years, 112 (46%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
13 of 243 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.