Based on 251 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added PKW 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 (100% of max)
100% of all-time peak
251 hedge funds hold PKW 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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Steady growth — +11% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More sellers than buyers — 48% buying
95 buying101 selling
Last quarter: 101 funds reduced or exited vs 95 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.
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Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 26 → 34 → 35 → 23. 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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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 19% medium
■ 17% new
160 out of 251 hedge funds have held PKW 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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Steady discovery — ~23 new funds/quarter
28 → 26 → 34 → 35 → 23 new funds/Q
New funds entering each quarter: 26 → 34 → 35 → 23. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 66% veterans vs 22% newcomers
■ 66% veterans
■ 13% 1-2yr
■ 22% new
Entry-cohort mix of 251 holders: 165 (66%) are 2+ year veterans, 32 entered 1–2 years ago, and 54 (22%) 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
26 of 251 holders are among the 100 largest funds by AUM, controlling 55% of total institutional value in PKW. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.