Based on 23 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their JANZ 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 — 72% of 3.0Y peak
72% of all-time peak
23 funds currently hold this stock — 72% of the 3.0-year high of 32 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +35% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+35% 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.
🔴
Heavy selling pressure — only 30% buying
10 buying23 selling
Last quarter: 23 funds sold vs only 10 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 19 → 5 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 35% long-term, 48% new
■ 35% conviction (2yr+)
■ 17% medium
■ 48% new
Of the 23 current holders: 8 (35%) held >2 years, 4 held 1–2 years, and 11 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📊
Peak discovery — momentum slowing
3 → 1 → 19 → 5 → 7 new funds/Q
New funds entering each quarter: 1 → 19 → 5 → 7. JANZ is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 39% veterans, 35% new entrants
■ 39% veterans
■ 26% 1-2yr
■ 35% new
Of 23 current holders: 9 (39%) held 2+ years, 6 held 1–2 years, 8 (35%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
2 of 23 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.