Based on 175 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added IHE 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.
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At the ownership peak (100% of max)
100% of all-time peak
175 hedge funds hold IHE 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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Steady growth — +16% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 71% buying
103 buying42 selling
Last quarter: 103 funds were net buyers (44 opened a brand new position + 59 added to an existing one). Only 42 were sellers (26 trimmed + 16 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+25 vs last Q)
new funds entering per quarter
Funds opening a new IHE position: 20 → 13 → 19 → 44. 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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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 21% medium
■ 26% new
93 out of 175 hedge funds have held IHE 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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Value +60% but shares only +37% — price-driven
Last quarter: the total dollar value of institutional holdings rose +60%, but actual share count only changed +37%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Acceleration phase — new buyers rushing in
31 → 20 → 13 → 19 → 44 new funds/Q
New funds entering each quarter: 20 → 13 → 19 → 44. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Deep conviction — 57% of holders stayed 2+ years
■ 57% veterans
■ 13% 1-2yr
■ 31% new
Of 175 current holders: 99 (57%) 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 — 70% AUM from top-100 funds
70% from top-100 AUM funds
19 of 175 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in IHE. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.