Based on 83 hedge funds · latest filing: 2025 Q4 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
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Below peak — only 64% of 3.0Y high
64% of all-time peak
Only 83 funds hold IVOL today versus a peak of 129 funds at 2023 Q4 — just 64% 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 — 16% fewer funds vs a year ago
fund count last 6Q
16 fewer hedge funds hold IVOL compared to a year ago (-16% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 39% buying
34 buying53 selling
Last quarter: 53 funds sold vs only 34 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 10 → 22 → 14. 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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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 11% medium
■ 24% new
54 out of 83 hedge funds have held IVOL 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
15 → 10 → 10 → 22 → 14 new funds/Q
New funds entering each quarter: 10 → 10 → 22 → 14. A growing number of institutions are discovering IVOL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 6% 1-2yr
■ 27% new
Of 83 current holders: 56 (67%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
7 of 83 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in IVOL. 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 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.