Based on 136 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added IDR 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
136 hedge funds hold IDR 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.
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Fast accumulation — +152% more funds vs a year ago
fund count last 6Q
+82 new funds entered over the past year (+152% 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 — 62% buying
97 buying59 selling
Last quarter: 97 funds were net buyers (40 opened a brand new position + 57 added to an existing one). Only 59 were sellers (31 trimmed + 28 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-22 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 12 → 34 → 62 → 40. 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.
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Mostly new holders — 69% entered in last year
■ 15% conviction (2yr+)
■ 16% medium
■ 69% new
Only 20 funds (15%) 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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Buying through price weakness — shares +12086%, value +37%
Last quarter: funds added +12086% more shares while total portfolio value only changed +37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
17 → 12 → 34 → 62 → 40 new funds/Q
New funds entering each quarter: 12 → 34 → 62 → 40. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🌱
Early stage — 71% of holders entered in last year
■ 19% veterans
■ 10% 1-2yr
■ 71% new
Of 143 current holders: 101 (71%) entered in the past year, only 27 (19%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Elite ownership — 44% AUM from top-100 funds
44% from top-100 AUM funds
29 of 136 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in IDR. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
6.7
out of 10
Moderate Exit Risk
Exit risk score 6.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.