Based on 34 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their PSCC 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 — 79% of 3.0Y peak
79% of all-time peak
34 funds currently hold this stock — 79% of the 3.0-year high of 43 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 21% fewer funds vs a year ago
fund count last 6Q
9 fewer hedge funds hold PSCC compared to a year ago (-21% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 32% buying
10 buying21 selling
Last quarter: 21 funds sold vs only 10 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 5 → 6 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 32% medium
■ 15% new
18 out of 34 hedge funds have held PSCC 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.
➡️
Steady discovery — ~3 new funds/quarter
11 → 2 → 5 → 6 → 3 new funds/Q
New funds entering each quarter: 2 → 5 → 6 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 53% veterans vs 26% newcomers
■ 53% veterans
■ 21% 1-2yr
■ 26% new
Entry-cohort mix of 34 holders: 18 (53%) are 2+ year veterans, 7 entered 1–2 years ago, and 9 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 26% AUM from major funds
26% from top-100 AUM funds
9 of 34 holders rank in the top 100 by AUM, accounting for 26% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.