Based on 30 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their IMAY 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 — 94% of 1.8Y peak
94% of all-time peak
30 funds currently hold this stock — 94% of the 1.8-year high of 32 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +275% more funds vs a year ago
fund count last 6Q
+22 new funds entered over the past year (+275% 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.
🔴
Heavy selling pressure — only 20% buying
4 buying16 selling
Last quarter: 16 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 21 → 5 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 73% entered in last year
■ 0% conviction (2yr+)
■ 27% medium
■ 73% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
⚠️
Saturation — most institutions already know this story
1 → 2 → 21 → 5 → 2 new funds/Q
New funds entering each quarter: 2 → 21 → 5 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🌱
Early stage — 80% of holders entered in last year
■ 0% veterans
■ 20% 1-2yr
■ 80% new
Of 30 current holders: 24 (80%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
1 of 30 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 8.0/10 — multiple crowding signals converge. Institutional ownership is at 94% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 20% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.