Based on 12 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CAPT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 80% of 3.0Y peak
80% of all-time peak
12 funds currently hold this stock — 80% of the 3.0-year high of 15 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold CAPT compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 43% buying
6 buying8 selling
Last quarter: 8 funds reduced or exited vs 6 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 — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 1 → 6 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 25% long-term, 33% new
■ 25% conviction (2yr+)
■ 42% medium
■ 33% new
Of the 12 current holders: 3 (25%) held >2 years, 5 held 1–2 years, and 4 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.
➡️
Steady discovery — ~2 new funds/quarter
5 → 1 → 1 → 6 → 2 new funds/Q
New funds entering each quarter: 1 → 1 → 6 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 15% veterans, 46% new entrants
■ 15% veterans
■ 38% 1-2yr
■ 46% new
Of 13 current holders: 2 (15%) held 2+ years, 5 held 1–2 years, 6 (46%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 61% AUM from top-100 funds
61% from top-100 AUM funds
6 of 12 holders are among the 100 largest funds by AUM, controlling 61% of total institutional value in CAPT. 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.