Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added PIIIW 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.
📊
High ownership — 91% of 3.0Y peak
91% of all-time peak
21 funds currently hold this stock — 91% of the 3.0-year high of 23 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +17% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 22% buying
2 buying7 selling
Last quarter: 7 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 3 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 33% medium
■ 10% new
12 out of 21 hedge funds have held PIIIW for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎
Buying through price weakness — shares +1%, value -44%
Last quarter: funds added +1% more shares while total portfolio value only changed -44%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
2 → 3 → 3 → 2 → 2 new funds/Q
New funds entering each quarter: 3 → 3 → 2 → 2. PIIIW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 57% veterans vs 14% newcomers
■ 57% veterans
■ 29% 1-2yr
■ 14% new
Entry-cohort mix of 21 holders: 12 (57%) are 2+ year veterans, 6 entered 1–2 years ago, and 3 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 1% AUM from top-100
1% from top-100 AUM funds
2 of 19 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.