Based on 1130 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added PSA 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.
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At the ownership peak (100% of max)
100% of all-time peak
1,130 hedge funds hold PSA 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding PSA is almost the same as a year ago (-1 funds, 0% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 55% buying
585 buying481 selling
Last quarter: 585 funds bought or added vs 481 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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More new buyers each quarter (+23 vs last Q)
new funds entering per quarter
Funds opening a new PSA position: 110 → 143 → 118 → 141. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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70% of holders stayed for 2+ years
■ 70% conviction (2yr+)
■ 16% medium
■ 14% new
787 out of 1,130 hedge funds have held PSA 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.
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Buying through price weakness — shares +60%, value +25%
Last quarter: funds added +60% more shares while total portfolio value only changed +25%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~141 new funds/quarter
122 → 110 → 143 → 118 → 141 new funds/Q
New funds entering each quarter: 110 → 143 → 118 → 141. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 71% veterans vs 17% newcomers
■ 71% veterans
■ 11% 1-2yr
■ 17% new
Entry-cohort mix of 1,150 holders: 821 (71%) are 2+ year veterans, 130 entered 1–2 years ago, and 199 (17%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 64% AUM from top-100 funds
64% from top-100 AUM funds
70 of 1124 holders are among the 100 largest funds by AUM, controlling 64% of total institutional value in PSA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.