Based on 35 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 this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
🔻
Below peak — only 66% of 3.0Y high
66% of all-time peak
Only 35 funds hold this stock today versus a peak of 53 funds at 2025 Q3 — just 66% 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.
🚀
Fast accumulation — +25% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+25% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🔴
Heavy selling pressure — only 15% buying
9 buying52 selling
Last quarter: 52 funds sold vs only 9 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-15 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 12 → 20 → 20 → 5. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄
Mostly new holders — 49% entered in last year
■ 14% conviction (2yr+)
■ 37% medium
■ 49% new
Only 5 funds (14%) 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.
💰
Price up while funds trimmed (-22% value, -85% shares)
Last quarter: total value of institutional CONY holdings rose -22% even though funds reduced share count by 85%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
15 → 12 → 20 → 20 → 5 new funds/Q
New funds entering each quarter: 12 → 20 → 20 → 5. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
📊
Mixed cohorts — 15% veterans, 49% new entrants
■ 15% veterans
■ 37% 1-2yr
■ 49% new
Of 41 current holders: 6 (15%) held 2+ years, 15 held 1–2 years, 20 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
5 of 35 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.