Based on 21 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CRT 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 — 81% of 3.0Y peak
81% of all-time peak
21 funds currently hold this stock — 81% of the 3.0-year high of 26 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding CRT is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 62% buying
13 buying8 selling
Last quarter: 13 funds were net buyers (5 opened a brand new position + 8 added to an existing one). Only 8 were sellers (1 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 1 → 0 → 13 → 5. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 38% long-term, 38% new
■ 38% conviction (2yr+)
■ 24% medium
■ 38% new
Of the 21 current holders: 8 (38%) held >2 years, 5 held 1–2 years, and 8 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.
💎
Buying through price weakness — shares +19%, value +2%
Last quarter: funds added +19% more shares while total portfolio value only changed +2%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~5 new funds/quarter
5 → 1 → 0 → 13 → 5 new funds/Q
New funds entering each quarter: 1 → 0 → 13 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 48% veterans vs 43% newcomers
■ 48% veterans
■ 10% 1-2yr
■ 43% new
Entry-cohort mix of 21 holders: 10 (48%) are 2+ year veterans, 2 entered 1–2 years ago, and 9 (43%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
5 of 21 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.