Based on 117 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 7 quarters in a row
For 7 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
117 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.
🚀
Fast accumulation — +67% more funds vs a year ago
fund count last 6Q
+47 new funds entered over the past year (+67% 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 — 66% buying
73 buying37 selling
Last quarter: 73 funds were net buyers (20 opened a brand new position + 53 added to an existing one). Only 37 were sellers (32 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~20 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 16 → 23 → 19 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 36% long-term, 31% new
■ 36% conviction (2yr+)
■ 33% medium
■ 31% new
Of the 117 current holders: 42 (36%) held >2 years, 39 held 1–2 years, and 36 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
➡️
Steady discovery — ~20 new funds/quarter
18 → 16 → 23 → 19 → 20 new funds/Q
New funds entering each quarter: 16 → 23 → 19 → 20. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 44% veterans vs 49% newcomers
■ 44% veterans
■ 7% 1-2yr
■ 49% new
Entry-cohort mix of 117 holders: 52 (44%) are 2+ year veterans, 8 entered 1–2 years ago, and 57 (49%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 55% AUM from top-100 funds
55% from top-100 AUM funds
15 of 117 holders are among the 100 largest funds by AUM, controlling 55% 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.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.