Based on 18 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, 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 — 44% fewer funds vs a year ago
fund count last 6Q
14 fewer hedge funds hold CLRB compared to a year ago (-44% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 43% buying
6 buying8 selling
Last quarter: 8 funds reduced or exited vs 6 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.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 6 → 4 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 33% long-term, 33% new
■ 33% conviction (2yr+)
■ 33% medium
■ 33% new
Of the 18 current holders: 6 (33%) held >2 years, 6 held 1–2 years, and 6 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📊
Peak discovery — momentum slowing
7 → 5 → 6 → 4 → 4 new funds/Q
New funds entering each quarter: 5 → 6 → 4 → 4. CLRB is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 39% veterans, 44% new entrants
■ 39% veterans
■ 17% 1-2yr
■ 44% new
Of 18 current holders: 7 (39%) held 2+ years, 3 held 1–2 years, 8 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 20% AUM from major funds
20% from top-100 AUM funds
5 of 18 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.