Based on 56 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their PLCE 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 37% of 3.0Y high
37% of all-time peak
Only 56 funds hold PLCE today versus a peak of 150 funds at 2023 Q1 — just 37% 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.
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Outflows — 32% fewer funds vs a year ago
fund count last 6Q
26 fewer hedge funds hold PLCE compared to a year ago (-32% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 42% buying
31 buying42 selling
Last quarter: 42 funds reduced or exited vs 31 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.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 10 → 8 → 20 → 12. 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.
🔒
70% of holders stayed for 2+ years
■ 70% conviction (2yr+)
■ 20% medium
■ 11% new
39 out of 56 hedge funds have held PLCE 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 -37%
Last quarter: funds added -1% more shares while total portfolio value only changed -37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
33 → 10 → 8 → 20 → 12 new funds/Q
New funds entering each quarter: 10 → 8 → 20 → 12. A growing number of institutions are discovering PLCE each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 80% of holders stayed 2+ years
■ 80% veterans
■ 9% 1-2yr
■ 12% new
Of 69 current holders: 55 (80%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋
Smaller funds dominant — 4% AUM from top-100
4% from top-100 AUM funds
13 of 56 holders rank in the top 100 by AUM, but together hold only 4% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.