Based on 257 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added PUK 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
257 hedge funds hold PUK 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.
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Fast accumulation — +35% more funds vs a year ago
fund count last 6Q
+67 new funds entered over the past year (+35% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 63% buying
166 buying96 selling
Last quarter: 166 funds were net buyers (49 opened a brand new position + 117 added to an existing one). Only 96 were sellers (55 trimmed + 41 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 39 → 37 → 59 → 49. 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.
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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 21% medium
■ 26% new
137 out of 257 hedge funds have held PUK 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.
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Growing discovery — still being found
51 → 39 → 37 → 59 → 49 new funds/Q
New funds entering each quarter: 39 → 37 → 59 → 49. A growing number of institutions are discovering PUK each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 60% veterans vs 31% newcomers
■ 60% veterans
■ 9% 1-2yr
■ 31% new
Entry-cohort mix of 257 holders: 153 (60%) are 2+ year veterans, 24 entered 1–2 years ago, and 80 (31%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 75% AUM from top-100 funds
75% from top-100 AUM funds
34 of 257 holders are among the 100 largest funds by AUM, controlling 75% of total institutional value in PUK. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
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.