Based on 106 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their CRDF positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 91% of 3.0Y peak
91% of all-time peak
106 funds currently hold this stock — 91% of the 3.0-year high of 117 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 6% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold CRDF compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 46% buying
44 buying52 selling
Last quarter: 52 funds reduced or exited vs 44 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 19 → 20 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 30% medium
■ 19% new
54 out of 106 hedge funds have held CRDF 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 +56% but shares only +6% — price-driven
Last quarter: the total dollar value of institutional holdings rose +56%, but actual share count only changed +6%. 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.
➡️
Steady discovery — ~15 new funds/quarter
34 → 19 → 19 → 20 → 15 new funds/Q
New funds entering each quarter: 19 → 19 → 20 → 15. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 61% of holders stayed 2+ years
■ 61% veterans
■ 10% 1-2yr
■ 29% new
Of 110 current holders: 67 (61%) 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 — 41% AUM from top-100 funds
41% from top-100 AUM funds
24 of 106 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in CRDF. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.