Based on 43 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added AJAN 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.
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At the ownership peak (98% of max)
98% of all-time peak
43 hedge funds hold AJAN right now — the highest count in 2.5 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.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding AJAN is almost the same as a year ago (-1 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 49% buying
17 buying18 selling
Last quarter: 18 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.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 5 → 9 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 37% long-term, 33% new
■ 37% conviction (2yr+)
■ 30% medium
■ 33% new
Of the 43 current holders: 16 (37%) held >2 years, 13 held 1–2 years, and 14 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.
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Steady discovery — ~10 new funds/quarter
1 → 5 → 5 → 9 → 10 new funds/Q
New funds entering each quarter: 5 → 5 → 9 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 33% veterans, 33% new entrants
■ 33% veterans
■ 35% 1-2yr
■ 33% new
Of 43 current holders: 14 (33%) held 2+ years, 15 held 1–2 years, 14 (33%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 7% AUM from top-100
7% from top-100 AUM funds
6 of 43 holders rank in the top 100 by AUM, but together hold only 7% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.