Based on 67 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added IMMX 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
67 hedge funds hold IMMX 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.
🚀
Fast accumulation — +191% more funds vs a year ago
fund count last 6Q
+44 new funds entered over the past year (+191% 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.
🟢
More buyers than sellers — 84% buying
59 buying11 selling
Last quarter: 59 funds were net buyers (41 opened a brand new position + 18 added to an existing one). Only 11 were sellers (6 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+29 vs last Q)
new funds entering per quarter
Funds opening a new IMMX position: 3 → 5 → 12 → 41. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 64% entered in last year
■ 19% conviction (2yr+)
■ 16% medium
■ 64% new
Only 13 funds (19%) 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.
💰
Value +2122% but shares only +785% — price-driven
Last quarter: the total dollar value of institutional holdings rose +2122%, but actual share count only changed +785%. 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.
🚀
Acceleration phase — new buyers rushing in
4 → 3 → 5 → 12 → 41 new funds/Q
New funds entering each quarter: 3 → 5 → 12 → 41. 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.
🌱
Early stage — 58% of holders entered in last year
■ 29% veterans
■ 13% 1-2yr
■ 58% new
Of 69 current holders: 40 (58%) entered in the past year, only 20 (29%) 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.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
18 of 67 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.
6.6
out of 10
Moderate Exit Risk
Exit risk score 6.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.