Based on 29 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 CONY 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 52% of 3.0Y high
52% of all-time peak
Only 29 funds hold CONY today versus a peak of 56 funds at 2025 Q3 — just 52% 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 — 43% fewer funds vs a year ago
fund count last 6Q
22 fewer hedge funds hold CONY compared to a year ago (-43% 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 — 57% buying
16 buying12 selling
Last quarter: 16 funds bought or added vs 12 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 — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 20 → 9 → 4 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 31% entered in last year
■ 24% conviction (2yr+)
■ 45% medium
■ 31% new
Only 7 funds (24%) 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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Buying through price weakness — shares -47%, value -62%
Last quarter: funds added -47% more shares while total portfolio value only changed -62%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Saturation — most institutions already know this story
23 → 20 → 9 → 4 → 6 new funds/Q
New funds entering each quarter: 20 → 9 → 4 → 6. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 42% veterans vs 36% newcomers
■ 42% veterans
■ 21% 1-2yr
■ 36% new
Entry-cohort mix of 33 holders: 14 (42%) are 2+ year veterans, 7 entered 1–2 years ago, and 12 (36%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 79% AUM from top-100 funds
79% from top-100 AUM funds
8 of 28 holders are among the 100 largest funds by AUM, controlling 79% of total institutional value in CONY. 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 1.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.