Based on 155 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added JSMD 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
155 hedge funds hold JSMD 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.
🚀
Fast accumulation — +65% more funds vs a year ago
fund count last 6Q
+61 new funds entered over the past year (+65% 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 — 67% buying
94 buying47 selling
Last quarter: 94 funds were net buyers (35 opened a brand new position + 59 added to an existing one). Only 47 were sellers (41 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+15 vs last Q)
new funds entering per quarter
Funds opening a new JSMD position: 17 → 20 → 20 → 35. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mixed — 36% long-term, 35% new
■ 36% conviction (2yr+)
■ 29% medium
■ 35% new
Of the 155 current holders: 56 (36%) held >2 years, 45 held 1–2 years, and 54 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.
💰
Value +46% but shares only +12% — price-driven
Last quarter: the total dollar value of institutional holdings rose +46%, but actual share count only changed +12%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
21 → 17 → 20 → 20 → 35 new funds/Q
New funds entering each quarter: 17 → 20 → 20 → 35. A growing number of institutions are discovering JSMD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 41% veterans vs 48% newcomers
■ 41% veterans
■ 12% 1-2yr
■ 48% new
Entry-cohort mix of 155 holders: 63 (41%) are 2+ year veterans, 18 entered 1–2 years ago, and 74 (48%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
16 of 155 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in JSMD. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.