Based on 30 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added PMI 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
30 hedge funds hold PMI 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 — +2900% more funds vs a year ago
fund count last 6Q
+29 new funds entered over the past year (+2900% 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 — 88% buying
29 buying4 selling
Last quarter: 29 funds were net buyers (25 opened a brand new position + 4 added to an existing one). Only 4 were sellers (0 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+17 vs last Q)
new funds entering per quarter
Funds opening a new PMI position: 0 → 0 → 8 → 25. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 0% medium
■ 40% new
18 out of 30 hedge funds have held PMI 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 -20%, value -84%
Last quarter: funds added -20% more shares while total portfolio value only changed -84%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~25 new funds/quarter
0 → 0 → 0 → 8 → 25 new funds/Q
New funds entering each quarter: 0 → 0 → 8 → 25. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 60% of holders stayed 2+ years
■ 60% veterans
■ 0% 1-2yr
■ 40% new
Of 30 current holders: 18 (60%) 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 — 57% AUM from top-100 funds
57% from top-100 AUM funds
13 of 30 holders are among the 100 largest funds by AUM, controlling 57% of total institutional value in PMI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
6.0
out of 10
Moderate Exit Risk
Exit risk score 6.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.