Based on 587 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their IEX 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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At the ownership peak (98% of max)
98% of all-time peak
587 hedge funds hold IEX 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding IEX is almost the same as a year ago (+1 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 47% buying
278 buying314 selling
Last quarter: 314 funds reduced or exited vs 278 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.
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More new buyers each quarter (+18 vs last Q)
new funds entering per quarter
Funds opening a new IEX position: 76 → 80 → 81 → 99. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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69% of holders stayed for 2+ years
■ 69% conviction (2yr+)
■ 15% medium
■ 16% new
403 out of 587 hedge funds have held IEX 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
69 → 76 → 80 → 81 → 99 new funds/Q
New funds entering each quarter: 76 → 80 → 81 → 99. A growing number of institutions are discovering IEX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 72% of holders stayed 2+ years
■ 72% veterans
■ 8% 1-2yr
■ 19% new
Of 594 current holders: 429 (72%) 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.
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Elite ownership — 51% AUM from top-100 funds
51% from top-100 AUM funds
48 of 587 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in IEX. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.