Based on 546 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added CRL 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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High ownership — 87% of 3.0Y peak
87% of all-time peak
546 funds currently hold this stock — 87% of the 3.0-year high of 631 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 8% fewer funds vs a year ago
fund count last 6Q
46 fewer hedge funds hold CRL compared to a year ago (-8% 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 — 51% buying
291 buying280 selling
Last quarter: 291 funds bought or added vs 280 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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More new buyers each quarter (+29 vs last Q)
new funds entering per quarter
Funds opening a new CRL position: 68 → 87 → 90 → 119. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 16% medium
■ 19% new
357 out of 546 hedge funds have held CRL 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.
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Value +33% but shares only +5% — price-driven
Last quarter: the total dollar value of institutional holdings rose +33%, but actual share count only changed +5%. 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.
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Growing discovery — still being found
86 → 68 → 87 → 90 → 119 new funds/Q
New funds entering each quarter: 68 → 87 → 90 → 119. A growing number of institutions are discovering CRL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 71% of holders stayed 2+ years
■ 71% veterans
■ 8% 1-2yr
■ 21% new
Of 559 current holders: 398 (71%) 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.
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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
46 of 546 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in CRL. 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.