Based on 15 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their JAPN 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 — 94% of 3.0Y peak
94% of all-time peak
15 funds currently hold this stock — 94% of the 3.0-year high of 16 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +1400% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+1400% 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 — 60% buying
9 buying6 selling
Last quarter: 9 funds were net buyers (2 opened a brand new position + 7 added to an existing one). Only 6 were sellers (3 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 8 → 5 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 73% entered in last year
■ 7% conviction (2yr+)
■ 20% medium
■ 73% new
Only 1 funds (7%) 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.
⚠️
Saturation — most institutions already know this story
0 → 8 → 8 → 5 → 2 new funds/Q
New funds entering each quarter: 8 → 8 → 5 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🌱
Early stage — 93% of holders entered in last year
■ 7% veterans
■ 0% 1-2yr
■ 93% new
Of 15 current holders: 14 (93%) entered in the past year, only 1 (7%) 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.
📋
Smaller funds dominant — 13% AUM from top-100
13% from top-100 AUM funds
4 of 15 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
6.4
out of 10
Moderate Exit Risk
Exit risk score 6.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.