Based on 255 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their PRCT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 91% of 3.0Y peak
91% of all-time peak
255 funds currently hold this stock — 91% of the 3.0-year high of 279 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 — 9% fewer funds vs a year ago
fund count last 6Q
24 fewer hedge funds hold PRCT compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 55% buying
145 buying120 selling
Last quarter: 145 funds bought or added vs 120 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.
⚠️
Fewer new buyers each quarter (-15 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 33 → 40 → 61 → 46. 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.
📌
Mixed — 36% long-term, 27% new
■ 36% conviction (2yr+)
■ 37% medium
■ 27% new
Of the 255 current holders: 93 (36%) held >2 years, 94 held 1–2 years, and 68 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 +5%, value -22%
Last quarter: funds added +5% more shares while total portfolio value only changed -22%. 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
58 → 33 → 40 → 61 → 46 new funds/Q
New funds entering each quarter: 33 → 40 → 61 → 46. A growing number of institutions are discovering PRCT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 43% veterans vs 33% newcomers
■ 43% veterans
■ 25% 1-2yr
■ 33% new
Entry-cohort mix of 264 holders: 113 (43%) are 2+ year veterans, 65 entered 1–2 years ago, and 86 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
47 of 253 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.