Based on 78 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added PBFS 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
78 hedge funds hold PBFS 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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Steady growth — +15% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More sellers than buyers — 47% buying
31 buying35 selling
Last quarter: 35 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.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 8 → 7 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 35% medium
■ 22% new
34 out of 78 hedge funds have held PBFS 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 +0%, value -33%
Last quarter: funds added +0% more shares while total portfolio value only changed -33%. 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 — ~10 new funds/quarter
14 → 5 → 8 → 7 → 10 new funds/Q
New funds entering each quarter: 5 → 8 → 7 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 49% veterans vs 32% newcomers
■ 49% veterans
■ 19% 1-2yr
■ 32% new
Entry-cohort mix of 78 holders: 38 (49%) are 2+ year veterans, 15 entered 1–2 years ago, and 25 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
28 of 78 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in PBFS. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.