Based on 217 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added CHAT 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
217 hedge funds hold CHAT 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.
🚀
Fast accumulation — +234% more funds vs a year ago
fund count last 6Q
+152 new funds entered over the past year (+234% 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.
🟢
More buyers than sellers — 76% buying
153 buying47 selling
Last quarter: 153 funds were net buyers (85 opened a brand new position + 68 added to an existing one). Only 47 were sellers (30 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+51 vs last Q)
new funds entering per quarter
Funds opening a new CHAT position: 51 → 41 → 34 → 85. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 59% entered in last year
■ 13% conviction (2yr+)
■ 28% medium
■ 59% new
Only 29 funds (13%) 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.
💰
Value +106% but shares only +28% — price-driven
Last quarter: the total dollar value of institutional holdings rose +106%, but actual share count only changed +28%. 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.
📈
Growing discovery — still being found
20 → 51 → 41 → 34 → 85 new funds/Q
New funds entering each quarter: 51 → 41 → 34 → 85. A growing number of institutions are discovering CHAT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 73% of holders entered in last year
■ 15% veterans
■ 12% 1-2yr
■ 73% new
Of 224 current holders: 163 (73%) entered in the past year, only 34 (15%) 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.
✅
Strong quality — 22% AUM from major funds
22% from top-100 AUM funds
19 of 216 holders rank in the top 100 by AUM, accounting for 22% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.0
out of 10
Moderate Exit Risk
Exit risk score 6.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.