Based on 28 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added ISPO 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
28 hedge funds hold ISPO 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 — +56% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+56% 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 — 54% buying
13 buying11 selling
Last quarter: 13 funds bought or added vs 11 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.
📈
More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new ISPO position: 3 → 3 → 5 → 12. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 29% long-term, 43% new
■ 29% conviction (2yr+)
■ 29% medium
■ 43% new
Of the 28 current holders: 8 (29%) held >2 years, 8 held 1–2 years, and 12 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.
💰
Value +283% but shares only +172% — price-driven
Last quarter: the total dollar value of institutional holdings rose +283%, but actual share count only changed +172%. 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.
📈
Growing discovery — still being found
5 → 3 → 3 → 5 → 12 new funds/Q
New funds entering each quarter: 3 → 3 → 5 → 12. A growing number of institutions are discovering ISPO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 4% veterans, 50% new entrants
■ 4% veterans
■ 46% 1-2yr
■ 50% new
Of 28 current holders: 1 (4%) held 2+ years, 13 held 1–2 years, 14 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 21% AUM from major funds
21% from top-100 AUM funds
7 of 28 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.