Based on 424 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added CRBG 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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At the ownership peak (100% of max)
100% of all-time peak
424 hedge funds hold CRBG 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.
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Steady growth — +12% more funds vs a year ago
fund count last 6Q
+47 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 56% buying
252 buying199 selling
Last quarter: 252 funds bought or added vs 199 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 — ~83 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 53 → 63 → 84 → 83. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 34% long-term, 28% new
■ 34% conviction (2yr+)
■ 38% medium
■ 28% new
Of the 424 current holders: 144 (34%) held >2 years, 162 held 1–2 years, and 118 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.
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Growing discovery — still being found
64 → 53 → 63 → 84 → 83 new funds/Q
New funds entering each quarter: 53 → 63 → 84 → 83. A growing number of institutions are discovering CRBG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 37% veterans, 34% new entrants
■ 37% veterans
■ 29% 1-2yr
■ 34% new
Of 432 current holders: 160 (37%) held 2+ years, 127 held 1–2 years, 145 (34%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Strong quality — 34% AUM from major funds
34% from top-100 AUM funds
45 of 424 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.