Based on 48 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 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
48 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 — +50% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+50% 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 buyers than sellers — 64% buying
29 buying16 selling
Last quarter: 29 funds were net buyers (9 opened a brand new position + 20 added to an existing one). Only 16 were sellers (13 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 10 → 8 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 23% medium
■ 31% new
22 out of 48 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.
➡️
Steady discovery — ~9 new funds/quarter
7 → 6 → 10 → 8 → 9 new funds/Q
New funds entering each quarter: 6 → 10 → 8 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 52% of holders stayed 2+ years
■ 52% veterans
■ 10% 1-2yr
■ 38% new
Of 48 current holders: 25 (52%) 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.
🏆
Elite ownership — 66% AUM from top-100 funds
66% from top-100 AUM funds
7 of 48 holders are among the 100 largest funds by AUM, controlling 66% 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.
4.3
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.