Based on 351 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 PPC 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 — 86% of 3.0Y peak
86% of all-time peak
351 funds currently hold this stock — 86% of the 3.0-year high of 408 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 14% fewer funds vs a year ago
fund count last 6Q
57 fewer hedge funds hold PPC compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 46% buying
171 buying202 selling
Last quarter: 202 funds reduced or exited vs 171 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.
⚠️
Fewer new buyers each quarter (-16 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 62 → 76 → 69 → 53. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 24% medium
■ 18% new
203 out of 351 hedge funds have held PPC 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.
➡️
Steady discovery — ~53 new funds/quarter
102 → 62 → 76 → 69 → 53 new funds/Q
New funds entering each quarter: 62 → 76 → 69 → 53. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 66% veterans vs 23% newcomers
■ 66% veterans
■ 12% 1-2yr
■ 23% new
Entry-cohort mix of 358 holders: 235 (66%) are 2+ year veterans, 42 entered 1–2 years ago, and 81 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
53 of 350 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in PPC. 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 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.