Based on 7 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their PCRB 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 — 70% of 3.0Y peak
70% of all-time peak
7 funds currently hold this stock — 70% of the 3.0-year high of 10 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 22% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold PCRB compared to a year ago (-22% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 33% buying
3 buying6 selling
Last quarter: 6 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 1 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 57% medium
■ 0% new
3 out of 7 hedge funds have held PCRB 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.
⚠️
Saturation — most institutions already know this story
1 → 1 → 3 → 1 → 1 new funds/Q
New funds entering each quarter: 1 → 3 → 1 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 43% veterans vs 14% newcomers
■ 43% veterans
■ 43% 1-2yr
■ 14% new
Entry-cohort mix of 7 holders: 3 (43%) are 2+ year veterans, 3 entered 1–2 years ago, and 1 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 100% AUM from top-100 funds
100% from top-100 AUM funds
4 of 7 holders are among the 100 largest funds by AUM, controlling 100% of total institutional value in PCRB. 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 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.