Based on 34 hedge funds · latest filing: 2026 Q1 · 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.
📊
High ownership — 81% of 3.0Y peak
81% of all-time peak
34 funds currently hold this stock — 81% of the 3.0-year high of 42 funds (reached 2023 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +10% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+10% 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
14 buying16 selling
Last quarter: 16 funds reduced or exited vs 14 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 7 → 13 → 6. 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.
🔒
47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 26% medium
■ 26% new
16 out of 34 hedge funds have held IFRX 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.
➡️
Steady discovery — ~6 new funds/quarter
11 → 10 → 7 → 13 → 6 new funds/Q
New funds entering each quarter: 10 → 7 → 13 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 69% veterans vs 29% newcomers
■ 69% veterans
■ 3% 1-2yr
■ 29% new
Entry-cohort mix of 35 holders: 24 (69%) are 2+ year veterans, 1 entered 1–2 years ago, and 10 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
9 of 33 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.