Based on 210 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added CARS 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 (96% of max)
96% of all-time peak
210 hedge funds hold CARS 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.
📉
Outflows — 4% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold CARS compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
101 buying115 selling
Last quarter: 115 funds reduced or exited vs 101 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.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new CARS position: 33 → 39 → 32 → 41. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 20% medium
■ 20% new
126 out of 210 hedge funds have held CARS 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 — ~41 new funds/quarter
45 → 33 → 39 → 32 → 41 new funds/Q
New funds entering each quarter: 33 → 39 → 32 → 41. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 64% of holders stayed 2+ years
■ 64% veterans
■ 11% 1-2yr
■ 24% new
Of 213 current holders: 137 (64%) 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 — 52% AUM from top-100 funds
52% from top-100 AUM funds
34 of 210 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in CARS. 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.