Based on 221 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their PPLT 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 — 92% of 3.0Y peak
92% of all-time peak
221 funds currently hold this stock — 92% of the 3.0-year high of 240 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +69% more funds vs a year ago
fund count last 6Q
+90 new funds entered over the past year (+69% 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 — 46% buying
113 buying131 selling
Last quarter: 131 funds reduced or exited vs 113 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 (-40 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 51 → 51 → 82 → 42. 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.
📌
Mixed — 33% long-term, 41% new
■ 33% conviction (2yr+)
■ 26% medium
■ 41% new
Of the 221 current holders: 74 (33%) held >2 years, 57 held 1–2 years, and 90 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.
📈
Growing discovery — still being found
25 → 51 → 51 → 82 → 42 new funds/Q
New funds entering each quarter: 51 → 51 → 82 → 42. A growing number of institutions are discovering PPLT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 40% veterans vs 47% newcomers
■ 40% veterans
■ 13% 1-2yr
■ 47% new
Entry-cohort mix of 233 holders: 94 (40%) are 2+ year veterans, 30 entered 1–2 years ago, and 109 (47%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
23 of 218 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.