Based on 805 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added PKG 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 (97% of max)
97% of all-time peak
805 hedge funds hold PKG 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding PKG is almost the same as a year ago (-29 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 50% buying
391 buying398 selling
Last quarter: 391 funds bought or added vs 398 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.
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Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 79 → 88 → 120 → 114. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 17% medium
■ 17% new
529 out of 805 hedge funds have held PKG 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
132 → 79 → 88 → 120 → 114 new funds/Q
New funds entering each quarter: 79 → 88 → 120 → 114. A growing number of institutions are discovering PKG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 12% 1-2yr
■ 20% new
Of 812 current holders: 554 (68%) 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 — 62% AUM from top-100 funds
62% from top-100 AUM funds
42 of 805 holders are among the 100 largest funds by AUM, controlling 62% of total institutional value in PKG. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.