Based on 29 hedge funds · latest filing: 2025 Q4 · 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
29 hedge funds hold CALC 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.
📶
Steady growth — +4% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 46% buying
11 buying13 selling
Last quarter: 13 funds reduced or exited vs 11 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 — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 4 → 6 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 34% entered in last year
■ 24% conviction (2yr+)
■ 41% medium
■ 34% new
Only 7 funds (24%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +123% but shares only +4% — price-driven
Last quarter: the total dollar value of institutional holdings rose +123%, but actual share count only changed +4%. 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.
➡️
Steady discovery — ~6 new funds/quarter
9 → 4 → 4 → 6 → 6 new funds/Q
New funds entering each quarter: 4 → 4 → 6 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 28% veterans, 38% new entrants
■ 28% veterans
■ 34% 1-2yr
■ 38% new
Of 29 current holders: 8 (28%) held 2+ years, 10 held 1–2 years, 11 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 16% AUM from top-100
16% from top-100 AUM funds
7 of 29 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.