Based on 56 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added JSPR 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.
🔻
Below peak — only 66% of 3.0Y high
66% of all-time peak
Only 56 funds hold JSPR today versus a peak of 85 funds at 2024 Q4 — just 66% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 16% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold JSPR compared to a year ago (-16% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 53% buying
28 buying25 selling
Last quarter: 28 funds bought or added vs 25 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 16 → 16 → 10 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 30% long-term, 39% new
■ 30% conviction (2yr+)
■ 30% medium
■ 39% new
Of the 56 current holders: 17 (30%) held >2 years, 17 held 1–2 years, and 22 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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Buying through price weakness — shares -15%, value -59%
Last quarter: funds added -15% more shares while total portfolio value only changed -59%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
12 → 16 → 16 → 10 → 12 new funds/Q
New funds entering each quarter: 16 → 16 → 10 → 12. JSPR is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 3% veterans, 41% new entrants
■ 3% veterans
■ 55% 1-2yr
■ 41% new
Of 58 current holders: 2 (3%) held 2+ years, 32 held 1–2 years, 24 (41%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
16 of 55 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.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.