Based on 7 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their IPG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 1% of 3.0Y high
1% of all-time peak
Only 7 funds hold IPG today versus a peak of 678 funds at 2024 Q3 — just 1% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 99% fewer funds vs a year ago
fund count last 6Q
668 fewer hedge funds hold IPG compared to a year ago (-99% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 1% buying
6 buying585 selling
Last quarter: 585 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-73 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 72 → 70 → 76 → 3. 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.
🔒
43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 0% medium
■ 57% new
3 out of 7 hedge funds have held IPG 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.
⚠️
Saturation — most institutions already know this story
113 → 72 → 70 → 76 → 3 new funds/Q
New funds entering each quarter: 72 → 70 → 76 → 3. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🌱
Early stage — 57% of holders entered in last year
■ 43% veterans
■ 0% 1-2yr
■ 57% new
Of 7 current holders: 4 (57%) entered in the past year, only 3 (43%) 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 — 36% AUM from major funds
36% from top-100 AUM funds
1 of 7 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.