Based on 205 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added CIG 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 (100% of max)
100% of all-time peak
205 hedge funds hold CIG 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 — +23% more funds vs a year ago
fund count last 6Q
+39 new funds entered over the past year (+23% 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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More buyers than sellers — 63% buying
115 buying67 selling
Last quarter: 115 funds were net buyers (38 opened a brand new position + 77 added to an existing one). Only 67 were sellers (50 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new CIG position: 22 → 20 → 25 → 38. 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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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 19% medium
■ 20% new
124 out of 205 hedge funds have held CIG 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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Value +24% but shares only +5% — price-driven
Last quarter: the total dollar value of institutional holdings rose +24%, but actual share count only changed +5%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
20 → 22 → 20 → 25 → 38 new funds/Q
New funds entering each quarter: 22 → 20 → 25 → 38. A growing number of institutions are discovering CIG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 69% veterans vs 23% newcomers
■ 69% veterans
■ 8% 1-2yr
■ 23% new
Entry-cohort mix of 208 holders: 143 (69%) are 2+ year veterans, 17 entered 1–2 years ago, and 48 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
41 of 205 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.