Based on 52 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added JOET 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 JOET 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.
🚀
Fast accumulation — +53% more funds vs a year ago
fund count last 6Q
+18 new funds entered over the past year (+53% 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 — 49% buying
26 buying27 selling
Last quarter: 27 funds reduced or exited vs 26 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 — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 8 → 9 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
40% of holders stayed for 2+ years
■ 40% conviction (2yr+)
■ 29% medium
■ 31% new
21 out of 52 hedge funds have held JOET 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.
📈
Growing discovery — still being found
6 → 10 → 8 → 9 → 12 new funds/Q
New funds entering each quarter: 10 → 8 → 9 → 12. A growing number of institutions are discovering JOET each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 50% veterans vs 37% newcomers
■ 50% veterans
■ 13% 1-2yr
■ 37% new
Entry-cohort mix of 52 holders: 26 (50%) are 2+ year veterans, 7 entered 1–2 years ago, and 19 (37%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 73% AUM from top-100 funds
73% from top-100 AUM funds
12 of 52 holders are among the 100 largest funds by AUM, controlling 73% of total institutional value in JOET. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.