Based on 15 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added COLA 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 50% of 3.0Y high
50% of all-time peak
Only 15 funds hold COLA today versus a peak of 30 funds at 2025 Q4 — just 50% 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 — 42% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold COLA compared to a year ago (-42% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 53% buying
8 buying7 selling
Last quarter: 8 funds bought or added vs 7 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 7 → 4 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 53% entered in last year
■ 0% conviction (2yr+)
■ 47% medium
■ 53% 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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Steady discovery — ~5 new funds/quarter
12 → 3 → 7 → 4 → 5 new funds/Q
New funds entering each quarter: 3 → 7 → 4 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 67% of holders entered in last year
■ 0% veterans
■ 33% 1-2yr
■ 67% new
Of 15 current holders: 10 (67%) entered in the past year, only 0 (0%) 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.
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Smaller funds dominant — 1% AUM from top-100
1% from top-100 AUM funds
3 of 15 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.