Based on 6 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 PCGG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 50% of 3.0Y high
50% of all-time peak
Only 6 funds hold PCGG today versus a peak of 12 funds at 2025 Q2 — just 50% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📉
Outflows — 50% fewer funds vs a year ago
fund count last 6Q
6 fewer hedge funds hold PCGG compared to a year ago (-50% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 27% buying
3 buying8 selling
Last quarter: 8 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 1 → 5 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 33% long-term, 0% new
■ 33% conviction (2yr+)
■ 67% medium
■ 0% new
Of the 6 current holders: 2 (33%) held >2 years, 4 held 1–2 years, and 0 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.
💰
Price up while funds trimmed (-12% value, -38% shares)
Last quarter: total value of institutional PCGG holdings rose -12% even though funds reduced share count by 38%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~0 new funds/quarter
2 → 2 → 1 → 5 → 0 new funds/Q
New funds entering each quarter: 2 → 1 → 5 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 50% veterans vs 0% newcomers
■ 50% veterans
■ 50% 1-2yr
■ 0% new
Entry-cohort mix of 6 holders: 3 (50%) are 2+ year veterans, 3 entered 1–2 years ago, and 0 (0%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 70% AUM from top-100 funds
70% from top-100 AUM funds
2 of 6 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in PCGG. 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 1.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.