Based on 737 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CIBR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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At the ownership peak (95% of max)
95% of all-time peak
737 hedge funds hold CIBR 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 — +21% more funds vs a year ago
fund count last 6Q
+130 new funds entered over the past year (+21% 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.
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Slight buying edge — 54% buying
408 buying345 selling
Last quarter: 408 funds bought or added vs 345 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.
⚠️
Fewer new buyers each quarter (-46 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 140 → 67 → 122 → 76. 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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52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 26% medium
■ 23% new
381 out of 737 hedge funds have held CIBR 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 — ~76 new funds/quarter
85 → 140 → 67 → 122 → 76 new funds/Q
New funds entering each quarter: 140 → 67 → 122 → 76. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 53% of holders stayed 2+ years
■ 53% veterans
■ 16% 1-2yr
■ 30% new
Of 747 current holders: 398 (53%) 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 — 64% AUM from top-100 funds
64% from top-100 AUM funds
28 of 737 holders are among the 100 largest funds by AUM, controlling 64% of total institutional value in CIBR. 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.