Based on 8 hedge funds · latest filing: 2026 Q2 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊
High ownership — 80% of 3.0Y peak
80% of all-time peak
8 funds currently hold this stock — 80% of the 3.0-year high of 10 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 11% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold JBAXY compared to a year ago (-11% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 75% buying
6 buying2 selling
Last quarter: 6 funds were net buyers (2 opened a brand new position + 4 added to an existing one). Only 2 were sellers (0 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 3 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 12% medium
■ 25% new
5 out of 8 hedge funds have held JBAXY 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.
💰
Value +25% but shares only +6% — price-driven
Last quarter: the total dollar value of institutional holdings rose +25%, but actual share count only changed +6%. 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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Peak discovery — momentum slowing
1 → 0 → 3 → 0 → 2 new funds/Q
New funds entering each quarter: 0 → 3 → 0 → 2. JBAXY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 50% veterans vs 38% newcomers
■ 50% veterans
■ 12% 1-2yr
■ 38% new
Entry-cohort mix of 8 holders: 4 (50%) are 2+ year veterans, 1 entered 1–2 years ago, and 3 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 46% AUM from top-100 funds
46% from top-100 AUM funds
2 of 8 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in JBAXY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.