Based on 92 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added PIZ 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
92 hedge funds hold PIZ 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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Fast accumulation — +77% more funds vs a year ago
fund count last 6Q
+40 new funds entered over the past year (+77% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 75% buying
65 buying22 selling
Last quarter: 65 funds were net buyers (22 opened a brand new position + 43 added to an existing one). Only 22 were sellers (17 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new PIZ position: 12 → 17 → 15 → 22. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 11% medium
■ 43% new
42 out of 92 hedge funds have held PIZ 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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Growing discovery — still being found
7 → 12 → 17 → 15 → 22 new funds/Q
New funds entering each quarter: 12 → 17 → 15 → 22. A growing number of institutions are discovering PIZ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 49% of holders stayed 2+ years
■ 49% veterans
■ 4% 1-2yr
■ 47% new
Of 92 current holders: 45 (49%) 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.
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Elite ownership — 59% AUM from top-100 funds
59% from top-100 AUM funds
11 of 92 holders are among the 100 largest funds by AUM, controlling 59% of total institutional value in PIZ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.9
out of 10
Moderate Exit Risk
Exit risk score 4.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.