Based on 995 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added IXUS 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
995 hedge funds hold IXUS 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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Fast accumulation — +28% more funds vs a year ago
fund count last 6Q
+216 new funds entered over the past year (+28% 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.
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Slight buying edge — 57% buying
485 buying367 selling
Last quarter: 485 funds bought or added vs 367 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.
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Fewer new buyers each quarter (-42 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 99 → 85 → 154 → 112. 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.
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58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 21% medium
■ 21% new
576 out of 995 hedge funds have held IXUS 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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Growing discovery — still being found
78 → 99 → 85 → 154 → 112 new funds/Q
New funds entering each quarter: 99 → 85 → 154 → 112. A growing number of institutions are discovering IXUS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 61% veterans vs 26% newcomers
■ 61% veterans
■ 13% 1-2yr
■ 26% new
Entry-cohort mix of 997 holders: 608 (61%) are 2+ year veterans, 134 entered 1–2 years ago, and 255 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
25 of 993 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.