Based on 16 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 PHEQ positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 89% of 2.8Y peak
89% of all-time peak
16 funds currently hold this stock — 89% of the 2.8-year high of 18 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +33% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+33% 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 sellers than buyers — 43% buying
9 buying12 selling
Last quarter: 12 funds reduced or exited vs 9 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 6 → 6 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 31% long-term, 44% new
■ 31% conviction (2yr+)
■ 25% medium
■ 44% new
Of the 16 current holders: 5 (31%) held >2 years, 4 held 1–2 years, and 7 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.
➡️
Steady discovery — ~5 new funds/quarter
5 → 3 → 6 → 6 → 5 new funds/Q
New funds entering each quarter: 3 → 6 → 6 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 56% of holders entered in last year
■ 25% veterans
■ 19% 1-2yr
■ 56% new
Of 16 current holders: 9 (56%) entered in the past year, only 4 (25%) 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.
🏆
Elite ownership — 94% AUM from top-100 funds
94% from top-100 AUM funds
4 of 16 holders are among the 100 largest funds by AUM, controlling 94% of total institutional value in PHEQ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.