Based on 32 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added JNUG 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.
📊
High ownership — 89% of 3.0Y peak
89% of all-time peak
32 funds currently hold this stock — 89% of the 3.0-year high of 36 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +39% more funds vs a year ago
fund count last 6Q
+9 new funds entered over the past year (+39% 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. The peak was reached in just 4 quarters from the low — a sharp move.
🟠
More sellers than buyers — 46% buying
17 buying20 selling
Last quarter: 20 funds reduced or exited vs 17 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 7 → 10 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 19% medium
■ 25% new
18 out of 32 hedge funds have held JNUG 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.
💰
Price up while funds trimmed (+7% value, -15% shares)
Last quarter: total value of institutional JNUG holdings rose +7% even though funds reduced share count by 15%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~7 new funds/quarter
1 → 12 → 7 → 10 → 7 new funds/Q
New funds entering each quarter: 12 → 7 → 10 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 8% 1-2yr
■ 25% new
Of 36 current holders: 24 (67%) 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.
📋
Smaller funds dominant — 1% AUM from top-100
1% from top-100 AUM funds
5 of 32 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.