Based on 522 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their CLH 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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At the ownership peak (97% of max)
97% of all-time peak
522 hedge funds hold CLH 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 CLH is almost the same as a year ago (-10 funds, -2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 44% buying
237 buying300 selling
Last quarter: 300 funds reduced or exited vs 237 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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More new buyers each quarter (+20 vs last Q)
new funds entering per quarter
Funds opening a new CLH position: 85 → 75 → 73 → 93. 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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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 18% medium
■ 20% new
320 out of 522 hedge funds have held CLH 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 — ~93 new funds/quarter
66 → 85 → 75 → 73 → 93 new funds/Q
New funds entering each quarter: 85 → 75 → 73 → 93. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 63% of holders stayed 2+ years
■ 63% veterans
■ 12% 1-2yr
■ 25% new
Of 532 current holders: 334 (63%) 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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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
41 of 522 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in CLH. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.