Based on 75 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added IDN 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
75 hedge funds hold IDN 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 — +67% more funds vs a year ago
fund count last 6Q
+30 new funds entered over the past year (+67% 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 — 63% buying
46 buying27 selling
Last quarter: 46 funds were net buyers (20 opened a brand new position + 26 added to an existing one). Only 27 were sellers (16 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+14 vs last Q)
new funds entering per quarter
Funds opening a new IDN position: 6 → 26 → 6 → 20. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 25% medium
■ 28% new
35 out of 75 hedge funds have held IDN 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.
💰
Value +61% but shares only +25% — price-driven
Last quarter: the total dollar value of institutional holdings rose +61%, but actual share count only changed +25%. 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.
📊
Peak discovery — momentum slowing
7 → 6 → 26 → 6 → 20 new funds/Q
New funds entering each quarter: 6 → 26 → 6 → 20. IDN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 63% of holders stayed 2+ years
■ 63% veterans
■ 6% 1-2yr
■ 30% new
Of 79 current holders: 50 (63%) 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.
📋
Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
15 of 75 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.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.