Based on 134 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their IXG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (99% of max)
99% of all-time peak
134 hedge funds hold IXG 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.
📶
Steady growth — +9% more funds vs a year ago
fund count last 6Q
+11 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 47% buying
54 buying60 selling
Last quarter: 60 funds reduced or exited vs 54 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~21 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 16 → 20 → 21. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 22% medium
■ 16% new
82 out of 134 hedge funds have held IXG 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.
🚀
Acceleration phase — new buyers rushing in
9 → 11 → 16 → 20 → 21 new funds/Q
New funds entering each quarter: 11 → 16 → 20 → 21. 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.
🏛️
Veteran-anchored — 61% veterans vs 22% newcomers
■ 61% veterans
■ 17% 1-2yr
■ 22% new
Entry-cohort mix of 134 holders: 82 (61%) are 2+ year veterans, 23 entered 1–2 years ago, and 29 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 56% AUM from top-100 funds
56% from top-100 AUM funds
23 of 134 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in IXG. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.