Based on 18 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CLRB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 43% of 3.0Y high
43% of all-time peak
Only 18 funds hold CLRB today versus a peak of 42 funds at 2024 Q1 — just 43% 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.
📉
Outflows — 40% fewer funds vs a year ago
fund count last 6Q
12 fewer hedge funds hold CLRB compared to a year ago (-40% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 65% buying
11 buying6 selling
Last quarter: 11 funds were net buyers (4 opened a brand new position + 7 added to an existing one). Only 6 were sellers (1 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 5 → 6 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 22% medium
■ 33% new
8 out of 18 hedge funds have held CLRB 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.
💎
Buying through price weakness — shares +17%, value -37%
Last quarter: funds added +17% more shares while total portfolio value only changed -37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~4 new funds/quarter
6 → 6 → 5 → 6 → 4 new funds/Q
New funds entering each quarter: 6 → 5 → 6 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 44% of holders stayed 2+ years
■ 44% veterans
■ 22% 1-2yr
■ 33% new
Of 18 current holders: 8 (44%) 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.
✅
Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
6 of 18 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.