Based on 84 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added PESI 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
84 hedge funds hold PESI 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.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 49% buying
39 buying40 selling
Last quarter: 40 funds reduced or exited vs 39 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new PESI position: 9 → 15 → 12 → 18. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 37% long-term, 32% new
■ 37% conviction (2yr+)
■ 31% medium
■ 32% new
Of the 84 current holders: 31 (37%) held >2 years, 26 held 1–2 years, and 27 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares -0%, value -16%
Last quarter: funds added -0% more shares while total portfolio value only changed -16%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
13 → 9 → 15 → 12 → 18 new funds/Q
New funds entering each quarter: 9 → 15 → 12 → 18. A growing number of institutions are discovering PESI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 43% veterans vs 38% newcomers
■ 43% veterans
■ 20% 1-2yr
■ 38% new
Entry-cohort mix of 87 holders: 37 (43%) are 2+ year veterans, 17 entered 1–2 years ago, and 33 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
29 of 84 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.