Based on 70 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their CEPT 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 — 81% of 3.0Y peak
81% of all-time peak
70 funds currently hold this stock — 81% of the 3.0-year high of 86 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +6900% more funds vs a year ago
fund count last 6Q
+69 new funds entered over the past year (+6900% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🔴
Heavy selling pressure — only 28% buying
22 buying56 selling
Last quarter: 56 funds sold vs only 22 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 85 → 10 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 89% entered in last year
■ 4% conviction (2yr+)
■ 7% medium
■ 89% new
Only 3 funds (4%) 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.
💎
Buying through price weakness — shares -20%, value -99%
Last quarter: funds added -20% more shares while total portfolio value only changed -99%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
0 → 0 → 85 → 10 → 12 new funds/Q
New funds entering each quarter: 0 → 85 → 10 → 12. 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.
🌱
Early stage — 89% of holders entered in last year
■ 11% veterans
■ 0% 1-2yr
■ 89% new
Of 70 current holders: 62 (89%) entered in the past year, only 8 (11%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 16% AUM from top-100
16% from top-100 AUM funds
12 of 70 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.
Exit risk score 7.4/10 — multiple crowding signals converge. Institutional ownership is at 81% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 28% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.