Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ICU 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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Below peak — only 69% of 2.2Y high
69% of all-time peak
Only 18 funds hold ICU today versus a peak of 26 funds at 2025 Q3 — just 69% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 28% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold ICU compared to a year ago (-28% 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 — 57% buying
8 buying6 selling
Last quarter: 8 funds bought or added vs 6 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 — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 1 → 5 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 33% entered in last year
■ 11% conviction (2yr+)
■ 56% medium
■ 33% new
Only 2 funds (11%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Steady discovery — ~5 new funds/quarter
2 → 3 → 1 → 5 → 5 new funds/Q
New funds entering each quarter: 3 → 1 → 5 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 0% veterans, 28% new entrants
■ 0% veterans
■ 72% 1-2yr
■ 28% new
Of 18 current holders: 0 (0%) held 2+ years, 13 held 1–2 years, 5 (28%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 61% AUM from top-100 funds
61% from top-100 AUM funds
6 of 18 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in ICU. 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 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.