Incyte Corp (INCY): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

Q: Is it too late to buy Incyte Corp (INCY) following the 2026 Q1 hedge fund 13F filings?

As of today, INCY has moved +3.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.8% for the XLV sector ETF — an outperformance of +1.1%. Since the quarter end (March 31, 2026), INCY gained +5.2% vs +1.8% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Incyte Corp (INCY)

807 + Investors. Track Smart Money conviction in INCY. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — INCY

Based on 811 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their INCY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

🏔️

At the ownership peak (99% of max)

99% of all-time peak

811 hedge funds hold INCY 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 — +31% more funds vs a year ago

fund count last 6Q

+191 new funds entered over the past year (+31% 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.

🟡

Slight buying edge — 51% buying

433 buying411 selling

Last quarter: 433 funds bought or added vs 411 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.

⚠️

Fewer new buyers each quarter (-71 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 101 → 126 → 184 → 113. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔒

55% of holders stayed for 2+ years

■ 55% conviction (2yr+) ■ 20% medium ■ 24% new

448 out of 811 hedge funds have held INCY 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.

📈

Growing discovery — still being found

81 → 101 → 126 → 184 → 113 new funds/Q

New funds entering each quarter: 101 → 126 → 184 → 113. A growing number of institutions are discovering INCY each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Veteran-anchored — 60% veterans vs 28% newcomers

■ 60% veterans ■ 12% 1-2yr ■ 28% new

Entry-cohort mix of 832 holders: 501 (60%) are 2+ year veterans, 98 entered 1–2 years ago, and 233 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

🏆

Elite ownership — 40% AUM from top-100 funds

40% from top-100 AUM funds

64 of 807 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in INCY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

4.0

out of 10

Moderate Exit Risk

Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	807	817	-1.22%
13F Shares	201M	201M	0.25%
Total Value	$18.10B	$19.65B	-7.9%
New Positions	112	184	-72
Increased Positions	316	329	-13
Closed Positions	122	64	+58
Reduced Positions	283	226	+57
Total Calls	15	10	50.0%
Total Puts	10	13	-23.08%
PUT/CALL Ratio	0.67	1.3	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

807

817

-1.22%

13F Shares

201M

0.25%

Total Value

$18.10B

$19.65B

-7.9%

New Positions

112

184

-72

Increased Positions

316

329

-13

Closed Positions

122

+58

Reduced Positions

283

226

+57

Total Calls

50.0%

Total Puts

-23.08%

PUT/CALL Ratio

0.67

1.3

Bullish

Institutional Holders (2026 Q1)

807 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in INCY. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 INCY holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Baker BROS. Advisors LP	16.62%	30,744,412	$2.89B
2	Sector Gamma As	4.46%	200,510	$18.9M
3	Nan Fung Group Holdings Ltd	4.17%	53,742	$5.1M
4	Catalio Capital Management, LP	3.58%	182,101	$17.1M
5	GordonMD Global Investments LP	2.84%	43,300	$4.1M
6	Atle Fund Management AB	2.57%	50,796	$8.0M
7	Sound Shore Management Inc /Ct/	2.42%	767,829	$72.3M
8	JGP Global Gestao de Recursos Ltda.	2.28%	5,620	$529K
9	Ashford Capital Management Inc	1.92%	165,247	$15.6M
10	AIMZ Investment Advisors, LLC	1.89%	65,158	$6.1M
11	Sawgrass Asset Management LLC	1.89%	133,532	$12.6M
12	Diadema Partners LP	1.69%	105,400	$9.9M
13	Haven Capital Group, Inc.	1.62%	18,490	$1.7M
14	AlphaCentric Advisors LLC	1.34%	14,245	$1.3M
15	Element Squared LLC	1.27%	23,957	$2.3M
16	Diadema Partners LP	1.25%	78,029	$7.3M
17	Millington Financial Advisors, LLC	1.16%	28,667	$2.7M
18	Armistice Capital, LLC	1.10%	656,817	$61.8M
19	DCF Advisers, LLC	1.04%	41,500	$3.9M
20	Northwest Bancshares, Inc.	1.02%	54,298	$5.1M
21	Board of the Pension Protection Fund	0.93%	10,800	$1.0M
22	Essential Partners LLC	0.91%	28,674	$2.7M
23	Applied Finance Capital Management, LLC	0.89%	126,406	$11.9M
24	Distillate Capital Partners LLC	0.89%	180,044	$16.9M
25	Twin Lakes Capital Management, LLC	0.86%	20,000	$1.9M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Incyte Corp (INCY)

What does the Smart Money Trend signal show for INCY?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their INCY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for INCY?

Slight buying edge — 51% buying: Last quarter: 433 funds bought or added vs 411 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.

What is the fund quality score for INCY holders?

Elite ownership — 40% AUM from top-100 funds: 64 of 807 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in INCY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held INCY?

55% of holders stayed for 2+ years: 448 out of 811 hedge funds have held INCY 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.

Is it too late to buy Incyte Corp (INCY) following the 2026 Q1 hedge fund 13F filings?

As of today, INCY has moved +3.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.8% for the XLV sector ETF — an outperformance of +1.1%. Since the quarter end (March 31, 2026), INCY has gained +5.2% vs +1.8% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Incyte Corp (INCY)

Smart Money Signals — INCY

Selling streak — 1 quarter in a row

At the ownership peak (99% of max)

Fast accumulation — +31% more funds vs a year ago

Slight buying edge — 51% buying

Fewer new buyers each quarter (-71 vs last Q)

55% of holders stayed for 2+ years

Growing discovery — still being found

Veteran-anchored — 60% veterans vs 28% newcomers

Elite ownership — 40% AUM from top-100 funds

Institutional Sentiment Summary — INCY

Hedge Fund Ownership: INCY

Market Analysis: INCY

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: INCY

Is It Too Late to Buy Incyte Corp (INCY) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: INCY

Statistics: INCY

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Incyte Corp (INCY)

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