Based on 8 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added ION 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
8 hedge funds hold ION 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 — +60% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+60% 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 — 71% buying
5 buying2 selling
Last quarter: 5 funds were net buyers (4 opened a brand new position + 1 added to an existing one). Only 2 were sellers (2 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 0 → 2 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 12% medium
■ 38% new
4 out of 8 hedge funds have held ION 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.
💰
Value +105% but shares only +87% — price-driven
Last quarter: the total dollar value of institutional holdings rose +105%, but actual share count only changed +87%. 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.
➡️
Steady discovery — ~4 new funds/quarter
2 → 2 → 0 → 2 → 4 new funds/Q
New funds entering each quarter: 2 → 0 → 2 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 62% veterans vs 38% newcomers
■ 62% veterans
■ 0% 1-2yr
■ 38% new
Entry-cohort mix of 8 holders: 5 (62%) are 2+ year veterans, 0 entered 1–2 years ago, and 3 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 56% AUM from top-100 funds
56% from top-100 AUM funds
4 of 8 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in ION. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.