Based on 438 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their PNFP positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 92% of 3.0Y peak
92% of all-time peak
438 funds currently hold this stock — 92% of the 3.0-year high of 474 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding PNFP is almost the same as a year ago (+5 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠
More sellers than buyers — 49% buying
248 buying261 selling
Last quarter: 261 funds reduced or exited vs 248 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.
⚠️
Fewer new buyers each quarter (-11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 62 → 66 → 100 → 89. 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.
🔒
60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 18% medium
■ 22% new
263 out of 438 hedge funds have held PNFP 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
78 → 62 → 66 → 100 → 89 new funds/Q
New funds entering each quarter: 62 → 66 → 100 → 89. A growing number of institutions are discovering PNFP each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 68% of holders stayed 2+ years
■ 68% veterans
■ 8% 1-2yr
■ 24% new
Of 448 current holders: 305 (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.
🏆
Elite ownership — 56% AUM from top-100 funds
56% from top-100 AUM funds
39 of 438 holders are among the 100 largest funds by AUM, controlling 56% of total institutional value in PNFP. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.