Based on 24 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 CLDI 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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Below peak — only 67% of 1.8Y high
67% of all-time peak
Only 24 funds hold CLDI today versus a peak of 36 funds at 2025 Q1 — just 67% 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 — 25% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold CLDI compared to a year ago (-25% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 74% buying
14 buying5 selling
Last quarter: 14 funds were net buyers (7 opened a brand new position + 7 added to an existing one). Only 5 were sellers (2 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 5 → 4 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 21% entered in last year
■ 0% conviction (2yr+)
■ 79% medium
■ 21% new
Only 0 funds (0%) 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.
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Buying through price weakness — shares +93%, value -73%
Last quarter: funds added +93% more shares while total portfolio value only changed -73%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
17 → 8 → 5 → 4 → 7 new funds/Q
New funds entering each quarter: 8 → 5 → 4 → 7. CLDI is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 0% veterans, 50% new entrants
■ 0% veterans
■ 50% 1-2yr
■ 50% new
Of 24 current holders: 0 (0%) held 2+ years, 12 held 1–2 years, 12 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
8 of 24 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.