Based on 71 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their CURV 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 — 82% of 3.0Y peak
82% of all-time peak
71 funds currently hold this stock — 82% of the 3.0-year high of 87 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold CURV compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 58% buying
42 buying30 selling
Last quarter: 42 funds bought or added vs 30 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.
➡️
Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 16 → 17 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
49% of holders stayed for 2+ years
■ 49% conviction (2yr+)
■ 28% medium
■ 23% new
35 out of 71 hedge funds have held CURV 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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Buying through price weakness — shares -2%, value -44%
Last quarter: funds added -2% more shares while total portfolio value only changed -44%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
14 → 11 → 16 → 17 → 13 new funds/Q
New funds entering each quarter: 11 → 16 → 17 → 13. A growing number of institutions are discovering CURV each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 58% of holders stayed 2+ years
■ 58% veterans
■ 15% 1-2yr
■ 26% new
Of 72 current holders: 42 (58%) 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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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
22 of 71 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.