Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Penumbra Inc (PEN)

476 + Investors. Track Smart Money conviction in PEN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +48
Streak
2Q ▲
Buyers last Q
55%

Smart Money Signals — PEN

Based on 478 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added PEN 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.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
478 hedge funds hold PEN 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.
📶

Steady growth — +14% more funds vs a year ago

fund count last 6Q
+60 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 55% buying

277 buying224 selling
Last quarter: 277 funds bought or added vs 224 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.
📈

More new buyers each quarter (+47 vs last Q)

new funds entering per quarter
Funds opening a new PEN position: 83 → 52 → 83 → 130. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

50% of holders stayed for 2+ years

■ 50% conviction (2yr+) ■ 21% medium ■ 28% new
241 out of 478 hedge funds have held PEN 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.
🚀

Acceleration phase — new buyers rushing in

90 → 83 → 52 → 83 → 130 new funds/Q
New funds entering each quarter: 83 → 52 → 83 → 130. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Veteran-anchored — 58% veterans vs 30% newcomers

■ 58% veterans ■ 12% 1-2yr ■ 30% new
Entry-cohort mix of 492 holders: 284 (58%) are 2+ year veterans, 58 entered 1–2 years ago, and 150 (30%) 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
60 of 478 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.
3.9
out of 10
Low Exit Risk
Exit risk score 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — PEN

In 2026 Q1, 277 hedge funds were net buyers of PEN (130 opened a new position, 147 added to an existing one), while 224 reduced or exited (142 trimmed, 82 sold completely) — a 55% buyer ratio, indicating a slight buying edge. Net buying has persisted for two consecutive quarters, a positive momentum signal. 38% of total institutional value in PEN is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +48 funds (more new holders than closures). Total institutional holders: 478.

Hedge Fund Ownership: PEN

How many hedge funds hold PEN — quarterly history vs. share price
Quarterly hedge fund ownership of PEN vs. share price

Market Analysis: PEN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: PEN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Penumbra Inc (PEN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much PEN has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 82d ago
PEN
nan%
XLV
+1.9%

PEN outperformed XLV by nan% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 37d ago
PEN
nan%
XLV
+3.0%

Since the filing became public, PEN outperformed XLV by nan% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

35 top-rated funds 6 high-conviction
Consensus
6.8
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: PEN
476 + Investors

Track Smart Money conviction in PEN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 476 430 10.7%
13F Shares 34M 37M -8.5%
Total Value $10.85B $10.94B -0.86%
New Positions 128 83 +45
Increased Positions 146 122 +24
Closed Positions 82 64 +18
Reduced Positions 139 174 -35
Total Calls 7 5 40.0%
Total Puts 7 4 75.0%
PUT/CALL Ratio 1.0 0.8 Neutral

Statistics: PEN

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
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Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

476 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in PEN. Verified SEC 13F-HR filings.

QUARTER:
Top 25 PEN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Ursa Fund Management, LLC 15.21% 49,800 $16.4M
2 Decagon Asset Management LLP 14.25% 167,588 $55.0M
3 Ursa Fund Management, LLC 10.69% 35,000 $11.5M
4 Slotnik Capital, LLC 9.70% 101,000 $33.2M
5 Birnam Oak Advisors, LP 7.15% 95,990 $31.5M
6 Sand Grove Capital Management LLP 6.41% 86,758 $28.5M
7 Vazirani Asset Management LLC 5.68% 7,500 $2.5M
8 Hbk Investments L P 5.45% 1,634,261 $536.6M
9 CIBRA Capital Ltd 5.01% 31,600 $10.4M
10 PSquared Asset Management AG 4.89% 42,785 $14.0M
11 Water Island Capital LLC 4.40% 120,095 $39.4M
12 Olympiad Research LP 4.39% 4,389 $1.4M
13 Equitec Proprietary Markets, LLC 4.35% 24,800 $8.1M
14 PFM Health Sciences, LP 4.19% 139,779 $45.9M
15 Versor Investments LP 3.65% 4,537 $1.5M
16 Kryger Capital LLC 3.57% 153,848 $50.5M
17 Harvest Management LLC 2.86% 18,000 $5.9M
18 Melqart Asset Management (UK) Ltd 2.65% 81,822 $26.9M
19 Alpine Associates Management INC. 2.55% 131,950 $43.3M
20 GABELLI & Co INVESTMENT ADVISERS, INC. 2.52% 51,692 $17.0M
21 Equitec Proprietary Markets, LLC 2.49% 14,200 $4.7M
22 Rock Springs Capital Management LP 2.33% 120,500 $39.6M
23 Cordgrass Capital Advisors, LLC 2.33% 30,307 $10.0M
24 Quarry LP 2.32% 39,345 $12.9M
25 Carret Asset Management, LLC 2.31% 72,000 $23.6M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Penumbra Inc (PEN)

What does the Smart Money Trend signal show for PEN?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added PEN 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.

What is the institutional breadth score for PEN?

Slight buying edge — 55% buying: Last quarter: 277 funds bought or added vs 224 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.

What is the fund quality score for PEN holders?

Strong quality — 38% AUM from major funds: 60 of 478 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.

How long have hedge funds held PEN?

50% of holders stayed for 2+ years: 241 out of 478 hedge funds have held PEN 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.

Is it too late to buy Penumbra Inc (PEN) following the 2026 Q1 hedge fund 13F filings?

As of today, PEN has moved nan% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.0% for the XLV sector ETF — an outperformance of nan%. Since the quarter end (March 31, 2026), PEN has gained nan% vs +1.9% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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