Based on 14 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 ICUCW 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.
🔻
Below peak — only 48% of 3.0Y high
48% of all-time peak
Only 14 funds hold ICUCW today versus a peak of 29 funds at 2023 Q3 — just 48% 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding ICUCW is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 86% buying
6 buying1 selling
Last quarter: 6 funds were net buyers (4 opened a brand new position + 2 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 3 → 1 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 14% medium
■ 21% new
9 out of 14 hedge funds have held ICUCW 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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Buying through price weakness — shares +14%, value -2%
Last quarter: funds added +14% more shares while total portfolio value only changed -2%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
1 → 3 → 3 → 1 → 4 new funds/Q
New funds entering each quarter: 3 → 3 → 1 → 4. ICUCW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 86% veterans vs 14% newcomers
■ 86% veterans
■ 0% 1-2yr
■ 14% new
Entry-cohort mix of 14 holders: 12 (86%) are 2+ year veterans, 0 entered 1–2 years ago, and 2 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
2 of 13 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.