Based on 265 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added COLL 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
265 hedge funds hold COLL 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.
📶
Steady growth — +17% more funds vs a year ago
fund count last 6Q
+38 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 52% buying
132 buying121 selling
Last quarter: 132 funds bought or added vs 121 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.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new COLL position: 33 → 19 → 43 → 52. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 21% medium
■ 20% new
156 out of 265 hedge funds have held COLL 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.
💰
Value +32% but shares only +0% — price-driven
Last quarter: the total dollar value of institutional holdings rose +32%, but actual share count only changed +0%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀
Acceleration phase — new buyers rushing in
32 → 33 → 19 → 43 → 52 new funds/Q
New funds entering each quarter: 33 → 19 → 43 → 52. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Deep conviction — 64% of holders stayed 2+ years
■ 64% veterans
■ 13% 1-2yr
■ 23% new
Of 266 current holders: 169 (64%) 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.
🏆
Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
40 of 265 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in COLL. 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.