Based on 91 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added CXDO 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
91 hedge funds hold CXDO 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.
🚀
Fast accumulation — +62% more funds vs a year ago
fund count last 6Q
+35 new funds entered over the past year (+62% 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.
🟢
More buyers than sellers — 63% buying
60 buying35 selling
Last quarter: 60 funds were net buyers (18 opened a brand new position + 42 added to an existing one). Only 35 were sellers (20 trimmed + 15 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~18 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 26 → 27 → 19 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 31% long-term, 41% new
■ 31% conviction (2yr+)
■ 29% medium
■ 41% new
Of the 91 current holders: 28 (31%) held >2 years, 26 held 1–2 years, and 37 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.
📊
Peak discovery — momentum slowing
14 → 26 → 27 → 19 → 18 new funds/Q
New funds entering each quarter: 26 → 27 → 19 → 18. CXDO is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 39% veterans, 47% new entrants
■ 39% veterans
■ 14% 1-2yr
■ 47% new
Of 93 current holders: 36 (39%) held 2+ years, 13 held 1–2 years, 44 (47%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
25 of 91 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.