Based on 206 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added CGC 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
206 hedge funds hold CGC 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding CGC is almost the same as a year ago (+2 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 51% buying
91 buying86 selling
Last quarter: 91 funds bought or added vs 86 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 (+13 vs last Q)
new funds entering per quarter
Funds opening a new CGC position: 28 → 28 → 36 → 49. 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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40% of holders stayed for 2+ years
■ 40% conviction (2yr+)
■ 29% medium
■ 31% new
82 out of 206 hedge funds have held CGC 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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Value +170% but shares only +21% — price-driven
Last quarter: the total dollar value of institutional holdings rose +170%, but actual share count only changed +21%. 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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Acceleration phase — new buyers rushing in
45 → 28 → 28 → 36 → 49 new funds/Q
New funds entering each quarter: 28 → 28 → 36 → 49. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Mixed cohorts — 6% veterans, 39% new entrants
■ 6% veterans
■ 55% 1-2yr
■ 39% new
Of 223 current holders: 13 (6%) held 2+ years, 123 held 1–2 years, 87 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 70% AUM from top-100 funds
70% from top-100 AUM funds
15 of 206 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in CGC. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.