Based on 22 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 PERF 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
22 hedge funds hold PERF 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 — +38% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+38% 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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Slight buying edge — 56% buying
14 buying11 selling
Last quarter: 14 funds bought or added vs 11 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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Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 4 → 5 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 50% entered in last year
■ 18% conviction (2yr+)
■ 32% medium
■ 50% new
Only 4 funds (18%) 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.
➡️
Steady discovery — ~8 new funds/quarter
7 → 8 → 4 → 5 → 8 new funds/Q
New funds entering each quarter: 8 → 4 → 5 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 68% of holders entered in last year
■ 18% veterans
■ 14% 1-2yr
■ 68% new
Of 22 current holders: 15 (68%) entered in the past year, only 4 (18%) 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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Elite ownership — 54% AUM from top-100 funds
54% from top-100 AUM funds
7 of 22 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in PERF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.