Based on 60 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds reduced or closed their CVGI 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 53% of 3.0Y high
53% of all-time peak
Only 60 funds hold CVGI today versus a peak of 114 funds at 2023 Q3 — just 53% 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.
📉
Outflows — 41% fewer funds vs a year ago
fund count last 6Q
41 fewer hedge funds hold CVGI compared to a year ago (-41% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 36% buying
21 buying37 selling
Last quarter: 37 funds sold vs only 21 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 13 → 12 → 7 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
75% of holders stayed for 2+ years
■ 75% conviction (2yr+)
■ 15% medium
■ 10% new
45 out of 60 hedge funds have held CVGI 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 -3%, value -18%
Last quarter: funds added -3% more shares while total portfolio value only changed -18%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
27 → 13 → 12 → 7 → 6 new funds/Q
New funds entering each quarter: 13 → 12 → 7 → 6. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 82% of holders stayed 2+ years
■ 82% veterans
■ 5% 1-2yr
■ 13% new
Of 61 current holders: 50 (82%) 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.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
15 of 60 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.