Based on 2714 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added CRM 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 (96% of max)
96% of all-time peak
2,714 hedge funds hold CRM 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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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
114 fewer hedge funds hold CRM compared to a year ago (-4% 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 — 50% buying
1418 buying1396 selling
Last quarter: 1,418 funds bought or added vs 1,396 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 (+176 vs last Q)
new funds entering per quarter
Funds opening a new CRM position: 212 → 230 → 192 → 368. 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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69% of holders stayed for 2+ years
■ 69% conviction (2yr+)
■ 17% medium
■ 13% new
1,883 out of 2,714 hedge funds have held CRM 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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Growing discovery — still being found
462 → 212 → 230 → 192 → 368 new funds/Q
New funds entering each quarter: 212 → 230 → 192 → 368. A growing number of institutions are discovering CRM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 13% 1-2yr
■ 19% new
Of 2,829 current holders: 1,909 (67%) 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
49 of 2714 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in CRM. 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 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.