Based on 52 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added XJUL 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
52 hedge funds hold XJUL right now — the highest count in 2.8 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 — +30% more funds vs a year ago
fund count last 6Q
+12 new funds entered over the past year (+30% 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 sellers than buyers — 46% buying
19 buying22 selling
Last quarter: 22 funds reduced or exited vs 19 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 — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 10 → 9 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 31% long-term, 23% new
■ 31% conviction (2yr+)
■ 46% medium
■ 23% new
Of the 52 current holders: 16 (31%) held >2 years, 24 held 1–2 years, and 12 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.
📈
Growing discovery — still being found
3 → 5 → 10 → 9 → 11 new funds/Q
New funds entering each quarter: 5 → 10 → 9 → 11. A growing number of institutions are discovering XJUL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 46% veterans vs 23% newcomers
■ 46% veterans
■ 31% 1-2yr
■ 23% new
Entry-cohort mix of 52 holders: 24 (46%) are 2+ year veterans, 16 entered 1–2 years ago, and 12 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
8 of 52 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.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.