Based on 109 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added DJCO 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
109 hedge funds hold DJCO 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 — +21% more funds vs a year ago
fund count last 6Q
+19 new funds entered over the past year (+21% 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 — 58% buying
60 buying43 selling
Last quarter: 60 funds bought or added vs 43 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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Steady new buyers — ~18 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 17 → 23 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 28% medium
■ 20% new
56 out of 109 hedge funds have held DJCO 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
13 → 14 → 17 → 23 → 18 new funds/Q
New funds entering each quarter: 14 → 17 → 23 → 18. A growing number of institutions are discovering DJCO each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 54% of holders stayed 2+ years
■ 54% veterans
■ 15% 1-2yr
■ 31% new
Of 109 current holders: 59 (54%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 27% AUM from major funds
27% from top-100 AUM funds
27 of 109 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.