Based on 52 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added IVA 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
52 hedge funds hold IVA 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 — +643% more funds vs a year ago
fund count last 6Q
+45 new funds entered over the past year (+643% 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 — 98% buying
44 buying1 selling
Last quarter: 44 funds were net buyers (38 opened a brand new position + 6 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+33 vs last Q)
new funds entering per quarter
Funds opening a new IVA position: 1 → 3 → 5 → 38. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 69% entered in last year
■ 17% conviction (2yr+)
■ 13% medium
■ 69% new
Only 9 funds (17%) 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.
💎
Buying through price weakness — shares +815%, value +638%
Last quarter: funds added +815% more shares while total portfolio value only changed +638%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
2 → 1 → 3 → 5 → 38 new funds/Q
New funds entering each quarter: 1 → 3 → 5 → 38. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🌱
Early stage — 69% of holders entered in last year
■ 27% veterans
■ 4% 1-2yr
■ 69% new
Of 52 current holders: 36 (69%) entered in the past year, only 14 (27%) 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.
📋
Smaller funds dominant — 14% AUM from top-100
14% from top-100 AUM funds
7 of 52 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
6.7
out of 10
Moderate Exit Risk
Exit risk score 6.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.