Based on 176 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added IGEB 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.
📊
High ownership — 79% of 3.0Y peak
79% of all-time peak
176 funds currently hold this stock — 79% of the 3.0-year high of 222 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +7% more funds vs a year ago
fund count last 6Q
+11 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 66% buying
121 buying62 selling
Last quarter: 121 funds were net buyers (25 opened a brand new position + 96 added to an existing one). Only 62 were sellers (42 trimmed + 20 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~25 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 30 → 20 → 25. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 32% long-term, 21% new
■ 32% conviction (2yr+)
■ 47% medium
■ 21% new
Of the 176 current holders: 57 (32%) held >2 years, 82 held 1–2 years, and 37 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~25 new funds/quarter
31 → 11 → 30 → 20 → 25 new funds/Q
New funds entering each quarter: 11 → 30 → 20 → 25. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 23% veterans, 28% new entrants
■ 23% veterans
■ 49% 1-2yr
■ 28% new
Of 176 current holders: 40 (23%) held 2+ years, 86 held 1–2 years, 50 (28%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
14 of 176 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.