Based on 470 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 9 quarters in a row
For 9 consecutive quarters, more hedge funds added IGM 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
470 hedge funds hold IGM 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 — +21% more funds vs a year ago
fund count last 6Q
+83 new funds entered over the past year (+21% 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.
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More sellers than buyers — 42% buying
162 buying223 selling
Last quarter: 223 funds reduced or exited vs 162 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.
⚠️
Fewer new buyers each quarter (-27 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 44 → 61 → 74 → 47. 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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54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 24% medium
■ 23% new
252 out of 470 hedge funds have held IGM 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
47 → 44 → 61 → 74 → 47 new funds/Q
New funds entering each quarter: 44 → 61 → 74 → 47. A growing number of institutions are discovering IGM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 56% of holders stayed 2+ years
■ 56% veterans
■ 15% 1-2yr
■ 29% new
Of 474 current holders: 264 (56%) 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 — 46% AUM from top-100 funds
46% from top-100 AUM funds
24 of 470 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in IGM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.