Based on 239 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 INTA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 84% of 3.0Y peak
84% of all-time peak
239 funds currently hold this stock — 84% of the 3.0-year high of 285 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 12% fewer funds vs a year ago
fund count last 6Q
33 fewer hedge funds hold INTA compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 53% buying
145 buying127 selling
Last quarter: 145 funds bought or added vs 127 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.
⚠️
Fewer new buyers each quarter (-16 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 45 → 39 → 53 → 37. 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.
🔒
42% of holders stayed for 2+ years
■ 42% conviction (2yr+)
■ 31% medium
■ 27% new
101 out of 239 hedge funds have held INTA 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 -3%, value -46%
Last quarter: funds added -3% more shares while total portfolio value only changed -46%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~37 new funds/quarter
56 → 45 → 39 → 53 → 37 new funds/Q
New funds entering each quarter: 45 → 39 → 53 → 37. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 47% veterans vs 36% newcomers
■ 47% veterans
■ 17% 1-2yr
■ 36% new
Entry-cohort mix of 245 holders: 114 (47%) are 2+ year veterans, 42 entered 1–2 years ago, and 89 (36%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
47 of 238 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.