Based on 45 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their PSR 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 — 85% of 3.0Y peak
85% of all-time peak
45 funds currently hold this stock — 85% of the 3.0-year high of 53 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold PSR compared to a year ago (-15% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
22 buying25 selling
Last quarter: 25 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 — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 4 → 9 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
76% of holders stayed for 2+ years
■ 76% conviction (2yr+)
■ 11% medium
■ 13% new
34 out of 45 hedge funds have held PSR 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 +7%, value -37%
Last quarter: funds added +7% more shares while total portfolio value only changed -37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~5 new funds/quarter
8 → 8 → 4 → 9 → 5 new funds/Q
New funds entering each quarter: 8 → 4 → 9 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 76% veterans vs 20% newcomers
■ 76% veterans
■ 4% 1-2yr
■ 20% new
Entry-cohort mix of 45 holders: 34 (76%) are 2+ year veterans, 2 entered 1–2 years ago, and 9 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
7 of 45 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in PSR. 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 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.