Based on 209 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added IE 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
209 hedge funds hold IE 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 — +67% more funds vs a year ago
fund count last 6Q
+84 new funds entered over the past year (+67% 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 — 63% buying
141 buying82 selling
Last quarter: 141 funds were net buyers (55 opened a brand new position + 86 added to an existing one). Only 82 were sellers (56 trimmed + 26 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+12 vs last Q)
new funds entering per quarter
Funds opening a new IE position: 29 → 54 → 43 → 55. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 33% long-term, 41% new
■ 33% conviction (2yr+)
■ 25% medium
■ 41% new
Of the 209 current holders: 70 (33%) held >2 years, 53 held 1–2 years, and 86 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.
💎
Buying through price weakness — shares +9%, value -21%
Last quarter: funds added +9% more shares while total portfolio value only changed -21%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
25 → 29 → 54 → 43 → 55 new funds/Q
New funds entering each quarter: 29 → 54 → 43 → 55. A growing number of institutions are discovering IE each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 43% veterans vs 41% newcomers
■ 43% veterans
■ 16% 1-2yr
■ 41% new
Entry-cohort mix of 227 holders: 98 (43%) are 2+ year veterans, 37 entered 1–2 years ago, and 92 (41%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
48 of 205 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in IE. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.