Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their IFNNY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 81% of 3.0Y peak
81% of all-time peak
21 funds currently hold this stock — 81% of the 3.0-year high of 26 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 9% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold IFNNY compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 62% buying
10 buying6 selling
Last quarter: 10 funds were net buyers (2 opened a brand new position + 8 added to an existing one). Only 6 were sellers (3 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 2 → 6 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 33% medium
■ 10% new
12 out of 21 hedge funds have held IFNNY 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.
➡️
Steady discovery — ~2 new funds/quarter
5 → 4 → 2 → 6 → 2 new funds/Q
New funds entering each quarter: 4 → 2 → 6 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 67% veterans vs 29% newcomers
■ 67% veterans
■ 5% 1-2yr
■ 29% new
Entry-cohort mix of 21 holders: 14 (67%) are 2+ year veterans, 1 entered 1–2 years ago, and 6 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 1% AUM from top-100
1% from top-100 AUM funds
2 of 21 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.