Based on 61 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added INCO 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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High ownership — 87% of 3.0Y peak
87% of all-time peak
61 funds currently hold this stock — 87% of the 3.0-year high of 70 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 8% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold INCO compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 54% buying
29 buying25 selling
Last quarter: 29 funds bought or added vs 25 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 6 → 7 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 36% long-term, 18% new
■ 36% conviction (2yr+)
■ 46% medium
■ 18% new
Of the 61 current holders: 22 (36%) held >2 years, 28 held 1–2 years, and 11 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Steady discovery — ~10 new funds/quarter
17 → 14 → 6 → 7 → 10 new funds/Q
New funds entering each quarter: 14 → 6 → 7 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 39% veterans, 38% new entrants
■ 39% veterans
■ 23% 1-2yr
■ 38% new
Of 61 current holders: 24 (39%) held 2+ years, 14 held 1–2 years, 23 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
12 of 61 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in INCO. 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.