Based on 24 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 JULH 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 — 89% of 2.8Y peak
89% of all-time peak
24 funds currently hold this stock — 89% of the 2.8-year high of 27 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +9% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 50% buying
11 buying11 selling
Last quarter: 11 funds bought or added vs 11 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.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 6 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 21% new
■ 38% conviction (2yr+)
■ 42% medium
■ 21% new
Of the 24 current holders: 9 (38%) held >2 years, 10 held 1–2 years, and 5 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.
➡️
Steady discovery — ~3 new funds/quarter
3 → 2 → 3 → 6 → 3 new funds/Q
New funds entering each quarter: 2 → 3 → 6 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 50% veterans vs 33% newcomers
■ 50% veterans
■ 17% 1-2yr
■ 33% new
Entry-cohort mix of 24 holders: 12 (50%) are 2+ year veterans, 4 entered 1–2 years ago, and 8 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
3 of 24 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.