Based on 385 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their CVLT 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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High ownership — 85% of 3.0Y peak
85% of all-time peak
385 funds currently hold this stock — 85% of the 3.0-year high of 453 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
42 fewer hedge funds hold CVLT compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 54% buying
238 buying205 selling
Last quarter: 238 funds bought or added vs 205 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.
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More new buyers each quarter (+18 vs last Q)
new funds entering per quarter
Funds opening a new CVLT position: 76 → 68 → 73 → 91. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 22% medium
■ 21% new
222 out of 385 hedge funds have held CVLT 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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Buying through price weakness — shares -7%, value -44%
Last quarter: funds added -7% more shares while total portfolio value only changed -44%. 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
73 → 76 → 68 → 73 → 91 new funds/Q
New funds entering each quarter: 76 → 68 → 73 → 91. A growing number of institutions are discovering CVLT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 63% veterans vs 22% newcomers
■ 63% veterans
■ 15% 1-2yr
■ 22% new
Entry-cohort mix of 395 holders: 249 (63%) are 2+ year veterans, 59 entered 1–2 years ago, and 87 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
55 of 380 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.