Based on 193 hedge funds · latest filing: 2021 Q3 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added CSOD 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 (100% of max)
100% of all-time peak
193 hedge funds hold CSOD 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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Fast accumulation — +28% more funds vs a year ago
fund count last 6Q
+42 new funds entered over the past year (+28% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks. The peak was reached in just 4 quarters from the low — a sharp move.
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Slight buying edge — 52% buying
114 buying105 selling
Last quarter: 114 funds bought or added vs 105 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 (+51 vs last Q)
new funds entering per quarter
Funds opening a new CSOD position: 32 → 30 → 20 → 71. 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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Value +17% but shares only +2% — price-driven
Last quarter: the total dollar value of institutional holdings rose +17%, but actual share count only changed +2%. 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
15 → 32 → 30 → 20 → 71 new funds/Q
New funds entering each quarter: 32 → 30 → 20 → 71. A growing number of institutions are discovering CSOD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.