Based on 23 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their CSBR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 70% of 3.0Y peak
70% of all-time peak
23 funds currently hold this stock — 70% of the 3.0-year high of 33 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 30% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold CSBR compared to a year ago (-30% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 36% buying
8 buying14 selling
Last quarter: 14 funds sold vs only 8 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 17% medium
■ 17% new
15 out of 23 hedge funds have held CSBR 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.
💎
Buying through price weakness — shares -1%, value -18%
Last quarter: funds added -1% more shares while total portfolio value only changed -18%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
11 → 4 → 1 → 4 → 3 new funds/Q
New funds entering each quarter: 4 → 1 → 4 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 61% of holders stayed 2+ years
■ 61% veterans
■ 17% 1-2yr
■ 22% new
Of 23 current holders: 14 (61%) 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.
📋
Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
8 of 23 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.