Based on 77 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 8 quarters in a row
For 8 consecutive quarters, more hedge funds added AIRJ 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
77 hedge funds hold AIRJ 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 — +196% more funds vs a year ago
fund count last 6Q
+51 new funds entered over the past year (+196% 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.
🟢
More buyers than sellers — 69% buying
53 buying24 selling
Last quarter: 53 funds were net buyers (21 opened a brand new position + 32 added to an existing one). Only 24 were sellers (14 trimmed + 10 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~21 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 32 → 22 → 21. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 65% entered in last year
■ 4% conviction (2yr+)
■ 31% medium
■ 65% new
Only 3 funds (4%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares +30%, value +9%
Last quarter: funds added +30% more shares while total portfolio value only changed +9%. 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
11 → 6 → 32 → 22 → 21 new funds/Q
New funds entering each quarter: 6 → 32 → 22 → 21. A growing number of institutions are discovering AIRJ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 73% of holders entered in last year
■ 5% veterans
■ 22% 1-2yr
■ 73% new
Of 82 current holders: 60 (73%) entered in the past year, only 4 (5%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
20 of 77 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.6
out of 10
Moderate Exit Risk
Exit risk score 6.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.