Based on 238 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 INOD 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 (98% of max)
98% of all-time peak
238 hedge funds hold INOD 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 — +71% more funds vs a year ago
fund count last 6Q
+99 new funds entered over the past year (+71% 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 — 52% buying
142 buying131 selling
Last quarter: 142 funds bought or added vs 131 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 (-29 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 69 → 59 → 76 → 47. 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.
📌
Mixed — 26% long-term, 40% new
■ 26% conviction (2yr+)
■ 34% medium
■ 40% new
Of the 238 current holders: 63 (26%) held >2 years, 80 held 1–2 years, and 95 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.
💎
Buying through price weakness — shares -15%, value -41%
Last quarter: funds added -15% more shares while total portfolio value only changed -41%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~47 new funds/quarter
59 → 69 → 59 → 76 → 47 new funds/Q
New funds entering each quarter: 69 → 59 → 76 → 47. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 39% veterans, 53% new entrants
■ 39% veterans
■ 8% 1-2yr
■ 53% new
Of 256 current holders: 100 (39%) held 2+ years, 21 held 1–2 years, 135 (53%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
35 of 238 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in INOD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.