Based on 87 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added PAM 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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High ownership — 78% of 3.0Y peak
78% of all-time peak
87 funds currently hold this stock — 78% of the 3.0-year high of 111 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 14% fewer funds vs a year ago
fund count last 6Q
14 fewer hedge funds hold PAM compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 51% buying
45 buying44 selling
Last quarter: 45 funds bought or added vs 44 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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Steady new buyers — ~20 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 19 → 9 → 22 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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47% of holders stayed for 2+ years
■ 47% conviction (2yr+)
■ 26% medium
■ 26% new
41 out of 87 hedge funds have held PAM 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 +26%, value +3%
Last quarter: funds added +26% more shares while total portfolio value only changed +3%. 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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Growing discovery — still being found
15 → 19 → 9 → 22 → 20 new funds/Q
New funds entering each quarter: 19 → 9 → 22 → 20. A growing number of institutions are discovering PAM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 65% veterans vs 24% newcomers
■ 65% veterans
■ 12% 1-2yr
■ 24% new
Entry-cohort mix of 93 holders: 60 (65%) are 2+ year veterans, 11 entered 1–2 years ago, and 22 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 19% AUM from top-100
19% from top-100 AUM funds
19 of 86 holders rank in the top 100 by AUM, but together hold only 19% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.