Based on 22 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their BJK positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 55% of 3.0Y high
55% of all-time peak
Only 22 funds hold BJK today versus a peak of 40 funds at 2023 Q2 — just 55% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 8% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold BJK compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 31% buying
5 buying11 selling
Last quarter: 11 funds sold vs only 5 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 5 → 5 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 18% medium
■ 23% new
13 out of 22 hedge funds have held BJK 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 -15%, value -45%
Last quarter: funds added -15% more shares while total portfolio value only changed -45%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~4 new funds/quarter
5 → 2 → 5 → 5 → 4 new funds/Q
New funds entering each quarter: 2 → 5 → 5 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 68% veterans vs 23% newcomers
■ 68% veterans
■ 9% 1-2yr
■ 23% new
Entry-cohort mix of 22 holders: 15 (68%) are 2+ year veterans, 2 entered 1–2 years ago, and 5 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 80% AUM from top-100 funds
80% from top-100 AUM funds
8 of 20 holders are among the 100 largest funds by AUM, controlling 80% of total institutional value in BJK. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.