Based on 8 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CFLT 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 2% of 3.0Y high
2% of all-time peak
Only 8 funds hold CFLT today versus a peak of 424 funds at 2025 Q4 — just 2% 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 — 98% fewer funds vs a year ago
fund count last 6Q
392 fewer hedge funds hold CFLT compared to a year ago (-98% 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 0% buying
2 buying422 selling
Last quarter: 422 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Fewer new buyers each quarter (-158 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 76 → 78 → 160 → 2. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 25% medium
■ 25% new
4 out of 8 hedge funds have held CFLT 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.
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Steady discovery — ~2 new funds/quarter
89 → 76 → 78 → 160 → 2 new funds/Q
New funds entering each quarter: 76 → 78 → 160 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 62% veterans vs 25% newcomers
■ 62% veterans
■ 12% 1-2yr
■ 25% new
Entry-cohort mix of 8 holders: 5 (62%) are 2+ year veterans, 1 entered 1–2 years ago, and 2 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 99% AUM from top-100 funds
99% from top-100 AUM funds
1 of 8 holders are among the 100 largest funds by AUM, controlling 99% of total institutional value in CFLT. 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 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.