Based on 44 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their PLCE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 33% of 3.0Y high
33% of all-time peak
Only 44 funds hold PLCE today versus a peak of 135 funds at 2023 Q3 — just 33% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 37% fewer funds vs a year ago
fund count last 6Q
26 fewer hedge funds hold PLCE compared to a year ago (-37% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 41% buying
22 buying32 selling
Last quarter: 32 funds reduced or exited vs 22 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.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 20 → 12 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 18% medium
■ 14% new
30 out of 44 hedge funds have held PLCE 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 -2%, value -18%
Last quarter: funds added -2% 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.
📊
Peak discovery — momentum slowing
10 → 8 → 20 → 12 → 7 new funds/Q
New funds entering each quarter: 8 → 20 → 12 → 7. PLCE is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 73% veterans vs 12% newcomers
■ 73% veterans
■ 14% 1-2yr
■ 12% new
Entry-cohort mix of 49 holders: 36 (73%) are 2+ year veterans, 7 entered 1–2 years ago, and 6 (12%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
14 of 42 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.