Based on 75 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their KKR/PRD 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 — 93% of 2.8Y peak
93% of all-time peak
75 funds currently hold this stock — 93% of the 2.8-year high of 81 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding KKR/PRD is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 53% buying
37 buying33 selling
Last quarter: 37 funds bought or added vs 33 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.
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Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 9 → 12 → 23 → 11. 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 — 29% entered in last year
■ 0% conviction (2yr+)
■ 71% medium
■ 29% new
Only 0 funds (0%) 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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Growing discovery — still being found
22 → 9 → 12 → 23 → 11 new funds/Q
New funds entering each quarter: 9 → 12 → 23 → 11. A growing number of institutions are discovering KKR/PRD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 1% veterans, 53% new entrants
■ 1% veterans
■ 45% 1-2yr
■ 53% new
Of 75 current holders: 1 (1%) held 2+ years, 34 held 1–2 years, 40 (53%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 82% AUM from top-100 funds
82% from top-100 AUM funds
26 of 75 holders are among the 100 largest funds by AUM, controlling 82% of total institutional value in KKR/PRD. 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.