Based on 74 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their CRMT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 59% of 3.0Y high
59% of all-time peak
Only 74 funds hold CRMT today versus a peak of 125 funds at 2023 Q3 — just 59% 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 — 37% fewer funds vs a year ago
fund count last 6Q
44 fewer hedge funds hold CRMT compared to a year ago (-37% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 39% buying
40 buying63 selling
Last quarter: 63 funds sold vs only 40 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~17 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 25 → 13 → 17. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 23% medium
■ 18% new
44 out of 74 hedge funds have held CRMT 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.
💎
Buying through price weakness — shares -16%, value -81%
Last quarter: funds added -16% more shares while total portfolio value only changed -81%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
27 → 19 → 25 → 13 → 17 new funds/Q
New funds entering each quarter: 19 → 25 → 13 → 17. CRMT is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 69% veterans vs 19% newcomers
■ 69% veterans
■ 12% 1-2yr
■ 19% new
Entry-cohort mix of 74 holders: 51 (69%) are 2+ year veterans, 9 entered 1–2 years ago, and 14 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
26 of 74 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.