Based on 166 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their ICHR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 91% of 3.0Y peak
91% of all-time peak
166 funds currently hold this stock — 91% of the 3.0-year high of 183 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 7% fewer funds vs a year ago
fund count last 6Q
13 fewer hedge funds hold ICHR compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
92 buying104 selling
Last quarter: 104 funds reduced or exited vs 92 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 24 → 29 → 43 → 30. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 16% medium
■ 17% new
112 out of 166 hedge funds have held ICHR 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
19 → 24 → 29 → 43 → 30 new funds/Q
New funds entering each quarter: 24 → 29 → 43 → 30. A growing number of institutions are discovering ICHR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 75% of holders stayed 2+ years
■ 75% veterans
■ 10% 1-2yr
■ 15% new
Of 175 current holders: 131 (75%) 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.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
35 of 166 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in ICHR. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.