Based on 599 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their IGV 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 — 93% of 3.0Y peak
93% of all-time peak
599 funds currently hold this stock — 93% of the 3.0-year high of 644 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding IGV is almost the same as a year ago (+19 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 44% buying
262 buying334 selling
Last quarter: 334 funds reduced or exited vs 262 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.
📈
More new buyers each quarter (+23 vs last Q)
new funds entering per quarter
Funds opening a new IGV position: 84 → 126 → 71 → 94. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 23% medium
■ 21% new
340 out of 599 hedge funds have held IGV 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.
📊
Peak discovery — momentum slowing
162 → 84 → 126 → 71 → 94 new funds/Q
New funds entering each quarter: 84 → 126 → 71 → 94. IGV is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 60% of holders stayed 2+ years
■ 60% veterans
■ 10% 1-2yr
■ 30% new
Of 619 current holders: 372 (60%) 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.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
22 of 599 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.