Based on 139 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
139 hedge funds hold III 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 — +36% more funds vs a year ago
fund count last 6Q
+37 new funds entered over the past year (+36% 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.
🟡
Slight buying edge — 50% buying
72 buying73 selling
Last quarter: 72 funds bought or added vs 73 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~29 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 21 → 24 → 25 → 29. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 22% medium
■ 27% new
71 out of 139 hedge funds have held III 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.
💎
Buying through price weakness — shares -2%, value -35%
Last quarter: funds added -2% more shares while total portfolio value only changed -35%. 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
14 → 21 → 24 → 25 → 29 new funds/Q
New funds entering each quarter: 21 → 24 → 25 → 29. A growing number of institutions are discovering III each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 55% veterans vs 30% newcomers
■ 55% veterans
■ 15% 1-2yr
■ 30% new
Entry-cohort mix of 140 holders: 77 (55%) are 2+ year veterans, 21 entered 1–2 years ago, and 42 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 20% AUM from major funds
20% from top-100 AUM funds
34 of 139 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.