Based on 105 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added INSE 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.
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At the ownership peak (100% of max)
100% of all-time peak
105 hedge funds hold INSE 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.
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Steady growth — +13% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 61% buying
57 buying37 selling
Last quarter: 57 funds were net buyers (17 opened a brand new position + 40 added to an existing one). Only 37 were sellers (29 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~17 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 13 → 9 → 15 → 17. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 17% medium
■ 25% new
61 out of 105 hedge funds have held INSE 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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Buying through price weakness — shares +2%, value -26%
Last quarter: funds added +2% more shares while total portfolio value only changed -26%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
15 → 13 → 9 → 15 → 17 new funds/Q
New funds entering each quarter: 13 → 9 → 15 → 17. A growing number of institutions are discovering INSE each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 60% veterans vs 27% newcomers
■ 60% veterans
■ 12% 1-2yr
■ 27% new
Entry-cohort mix of 106 holders: 64 (60%) are 2+ year veterans, 13 entered 1–2 years ago, and 29 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 17% AUM from top-100
17% from top-100 AUM funds
30 of 105 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.