Based on 260 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, 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 (98% of max)
98% of all-time peak
260 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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Steady growth — +6% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 56% buying
132 buying105 selling
Last quarter: 132 funds bought or added vs 105 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 (+13 vs last Q)
new funds entering per quarter
Funds opening a new CBU position: 43 → 19 → 20 → 33. 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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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 20% medium
■ 12% new
177 out of 260 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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Steady discovery — ~33 new funds/quarter
30 → 43 → 19 → 20 → 33 new funds/Q
New funds entering each quarter: 43 → 19 → 20 → 33. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 73% of holders stayed 2+ years
■ 73% veterans
■ 10% 1-2yr
■ 17% new
Of 262 current holders: 191 (73%) 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 — 66% AUM from top-100 funds
66% from top-100 AUM funds
50 of 260 holders are among the 100 largest funds by AUM, controlling 66% 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.