Based on 262 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added CBU 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.
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At the ownership peak (99% of max)
99% of all-time peak
262 hedge funds hold CBU 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding CBU is almost the same as a year ago (-3 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 56% buying
139 buying109 selling
Last quarter: 139 funds bought or added vs 109 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.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new CBU position: 19 → 20 → 33 → 39. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 18% medium
■ 17% new
170 out of 262 hedge funds have held CBU 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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Acceleration phase — new buyers rushing in
43 → 19 → 20 → 33 → 39 new funds/Q
New funds entering each quarter: 19 → 20 → 33 → 39. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Veteran-anchored — 70% veterans vs 19% newcomers
■ 70% veterans
■ 11% 1-2yr
■ 19% new
Entry-cohort mix of 264 holders: 185 (70%) are 2+ year veterans, 29 entered 1–2 years ago, and 50 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 51% AUM from top-100 funds
51% from top-100 AUM funds
45 of 261 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in CBU. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.