Based on 148 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CVGW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
148 hedge funds hold CVGW 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.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding CVGW is almost the same as a year ago (+3 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 46% buying
78 buying90 selling
Last quarter: 90 funds reduced or exited vs 78 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~27 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 28 → 35 → 24 → 27. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 21% medium
■ 13% new
98 out of 148 hedge funds have held CVGW 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.
📊
Peak discovery — momentum slowing
28 → 28 → 35 → 24 → 27 new funds/Q
New funds entering each quarter: 28 → 35 → 24 → 27. CVGW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 78% of holders stayed 2+ years
■ 78% veterans
■ 5% 1-2yr
■ 17% new
Of 151 current holders: 118 (78%) 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 — 37% AUM from major funds
37% from top-100 AUM funds
32 of 148 holders rank in the top 100 by AUM, accounting for 37% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.