Based on 8 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their ISPC 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 67% of 2.0Y high
67% of all-time peak
Only 8 funds hold ISPC today versus a peak of 12 funds at 2025 Q3 — just 67% 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.
📉
Outflows — 11% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold ISPC compared to a year ago (-11% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 15% buying
2 buying11 selling
Last quarter: 11 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 3 → 4 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 38% entered in last year
■ 0% conviction (2yr+)
■ 62% medium
■ 38% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Price up while funds trimmed (+82% value, -88% shares)
Last quarter: total value of institutional ISPC holdings rose +82% even though funds reduced share count by 88%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
2 → 6 → 3 → 4 → 2 new funds/Q
New funds entering each quarter: 6 → 3 → 4 → 2. ISPC is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 0% veterans, 44% new entrants
■ 0% veterans
■ 56% 1-2yr
■ 44% new
Of 9 current holders: 0 (0%) held 2+ years, 5 held 1–2 years, 4 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
3 of 8 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in ISPC. 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.