Based on 367 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added CCCS 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
367 hedge funds hold CCCS 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 — +9% more funds vs a year ago
fund count last 6Q
+30 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 62% buying
259 buying159 selling
Last quarter: 259 funds were net buyers (103 opened a brand new position + 156 added to an existing one). Only 159 were sellers (82 trimmed + 77 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+33 vs last Q)
new funds entering per quarter
Funds opening a new CCCS position: 64 → 57 → 70 → 103. 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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Mixed — 37% long-term, 33% new
■ 37% conviction (2yr+)
■ 30% medium
■ 33% new
Of the 367 current holders: 136 (37%) held >2 years, 111 held 1–2 years, and 120 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.
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Buying through price weakness — shares -9%, value -34%
Last quarter: funds added -9% more shares while total portfolio value only changed -34%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Growing discovery — still being found
79 → 64 → 57 → 70 → 103 new funds/Q
New funds entering each quarter: 64 → 57 → 70 → 103. A growing number of institutions are discovering CCCS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 44% veterans vs 38% newcomers
■ 44% veterans
■ 18% 1-2yr
■ 38% new
Entry-cohort mix of 368 holders: 161 (44%) are 2+ year veterans, 67 entered 1–2 years ago, and 140 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
50 of 367 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.