Based on 99 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 CDC 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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High ownership — 80% of 3.0Y peak
80% of all-time peak
99 funds currently hold this stock — 80% of the 3.0-year high of 124 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding CDC is almost the same as a year ago (-3 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 45% buying
39 buying48 selling
Last quarter: 48 funds reduced or exited vs 39 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 8 → 10 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 21% medium
■ 14% new
64 out of 99 hedge funds have held CDC 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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Growing discovery — still being found
15 → 7 → 8 → 10 → 12 new funds/Q
New funds entering each quarter: 7 → 8 → 10 → 12. A growing number of institutions are discovering CDC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 72% veterans vs 15% newcomers
■ 72% veterans
■ 13% 1-2yr
■ 15% new
Entry-cohort mix of 99 holders: 71 (72%) are 2+ year veterans, 13 entered 1–2 years ago, and 15 (15%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
16 of 99 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in CDC. 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 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.