Based on 760 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their PINS 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 — 94% of 3.0Y peak
94% of all-time peak
760 funds currently hold this stock — 94% of the 3.0-year high of 805 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +7% more funds vs a year ago
fund count last 6Q
+49 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 48% buying
417 buying449 selling
Last quarter: 449 funds reduced or exited vs 417 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.
📈
More new buyers each quarter (+13 vs last Q)
new funds entering per quarter
Funds opening a new PINS position: 151 → 161 → 127 → 140. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 20% medium
■ 22% new
441 out of 760 hedge funds have held PINS 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.
💎
Buying through price weakness — shares +1%, value -19%
Last quarter: funds added +1% more shares while total portfolio value only changed -19%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~140 new funds/quarter
124 → 151 → 161 → 127 → 140 new funds/Q
New funds entering each quarter: 151 → 161 → 127 → 140. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 63% of holders stayed 2+ years
■ 63% veterans
■ 10% 1-2yr
■ 26% new
Of 807 current holders: 512 (63%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
42 of 760 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in PINS. 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.