Based on 79 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added CZWI 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
79 hedge funds hold CZWI 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 — +65% more funds vs a year ago
fund count last 6Q
+31 new funds entered over the past year (+65% 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 — 62% buying
41 buying25 selling
Last quarter: 41 funds were net buyers (9 opened a brand new position + 32 added to an existing one). Only 25 were sellers (22 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-9 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 5 → 20 → 18 → 9. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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49% of holders stayed for 2+ years
■ 49% conviction (2yr+)
■ 16% medium
■ 34% new
39 out of 79 hedge funds have held CZWI 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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Steady discovery — ~9 new funds/quarter
11 → 5 → 20 → 18 → 9 new funds/Q
New funds entering each quarter: 5 → 20 → 18 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 59% of holders stayed 2+ years
■ 59% veterans
■ 5% 1-2yr
■ 35% new
Of 79 current holders: 47 (59%) 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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Elite ownership — 53% AUM from top-100 funds
53% from top-100 AUM funds
26 of 79 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in CZWI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.