Based on 400 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added CFLT 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.
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At the ownership peak (100% of max)
100% of all-time peak
400 hedge funds hold CFLT 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.
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Steady growth — +9% more funds vs a year ago
fund count last 6Q
+32 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 55% buying
282 buying230 selling
Last quarter: 282 funds bought or added vs 230 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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More new buyers each quarter (+73 vs last Q)
new funds entering per quarter
Funds opening a new CFLT position: 85 → 74 → 77 → 150. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mixed — 39% long-term, 35% new
■ 39% conviction (2yr+)
■ 26% medium
■ 35% new
Of the 400 current holders: 156 (39%) held >2 years, 105 held 1–2 years, and 139 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.
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Value +57% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +57%, but actual share count only changed +3%. 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.
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Growing discovery — still being found
89 → 85 → 74 → 77 → 150 new funds/Q
New funds entering each quarter: 85 → 74 → 77 → 150. A growing number of institutions are discovering CFLT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 54% of holders stayed 2+ years
■ 54% veterans
■ 12% 1-2yr
■ 34% new
Of 447 current holders: 241 (54%) 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.
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Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
43 of 400 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.