Based on 79 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added PXED 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.
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At the ownership peak (100% of max)
100% of all-time peak
79 hedge funds hold PXED 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 — +7800% more funds vs a year ago
fund count last 6Q
+78 new funds entered over the past year (+7800% 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.
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More buyers than sellers — 63% buying
52 buying31 selling
Last quarter: 52 funds were net buyers (30 opened a brand new position + 22 added to an existing one). Only 31 were sellers (15 trimmed + 16 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-34 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 64 → 30. 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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Mostly new holders — 97% entered in last year
■ 1% conviction (2yr+)
■ 1% medium
■ 97% new
Only 1 funds (1%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Steady discovery — ~30 new funds/quarter
0 → 0 → 0 → 64 → 30 new funds/Q
New funds entering each quarter: 0 → 0 → 64 → 30. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 97% of holders entered in last year
■ 3% veterans
■ 0% 1-2yr
■ 97% new
Of 79 current holders: 77 (97%) entered in the past year, only 2 (3%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
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Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
27 of 79 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 7.4/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.