Based on 835 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added IUSB 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.
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At the ownership peak (100% of max)
100% of all-time peak
835 hedge funds hold IUSB 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.
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Steady growth — +17% more funds vs a year ago
fund count last 6Q
+121 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 65% buying
539 buying291 selling
Last quarter: 539 funds were net buyers (88 opened a brand new position + 451 added to an existing one). Only 291 were sellers (211 trimmed + 80 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-67 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 81 → 88 → 155 → 88. 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.
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54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 24% medium
■ 22% new
448 out of 835 hedge funds have held IUSB 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.
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Growing discovery — still being found
94 → 81 → 88 → 155 → 88 new funds/Q
New funds entering each quarter: 81 → 88 → 155 → 88. A growing number of institutions are discovering IUSB each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 55% veterans vs 27% newcomers
■ 55% veterans
■ 17% 1-2yr
■ 27% new
Entry-cohort mix of 835 holders: 460 (55%) are 2+ year veterans, 146 entered 1–2 years ago, and 229 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 56% AUM from top-100 funds
56% from top-100 AUM funds
27 of 832 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in IUSB. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.