Based on 157 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added PJUN 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
157 hedge funds hold PJUN 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding PJUN is almost the same as a year ago (+5 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
🔴
Heavy selling pressure — only 32% buying
39 buying83 selling
Last quarter: 83 funds sold vs only 39 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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More new buyers each quarter (+12 vs last Q)
new funds entering per quarter
Funds opening a new PJUN position: 10 → 20 → 11 → 23. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 20% medium
■ 14% new
103 out of 157 hedge funds have held PJUN 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.
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Growing discovery — still being found
15 → 10 → 20 → 11 → 23 new funds/Q
New funds entering each quarter: 10 → 20 → 11 → 23. A growing number of institutions are discovering PJUN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 17% 1-2yr
■ 15% new
Of 157 current holders: 107 (68%) 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.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
7 of 157 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.