Based on 11 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their CCEL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 52% of 3.0Y high
52% of all-time peak
Only 11 funds hold CCEL today versus a peak of 21 funds at 2025 Q1 — just 52% 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 — 48% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold CCEL compared to a year ago (-48% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 31% buying
4 buying9 selling
Last quarter: 9 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 18% medium
■ 27% new
6 out of 11 hedge funds have held CCEL 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.
⚠️
Saturation — most institutions already know this story
3 → 1 → 3 → 0 → 2 new funds/Q
New funds entering each quarter: 1 → 3 → 0 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 55% veterans vs 36% newcomers
■ 55% veterans
■ 9% 1-2yr
■ 36% new
Entry-cohort mix of 11 holders: 6 (55%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (36%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 10% AUM from top-100
10% from top-100 AUM funds
4 of 11 holders rank in the top 100 by AUM, but together hold only 10% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.