Based on 163 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added PTNQ 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
163 hedge funds hold PTNQ 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.
📶
Steady growth — +16% more funds vs a year ago
fund count last 6Q
+23 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 45% buying
67 buying81 selling
Last quarter: 81 funds reduced or exited vs 67 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.
➡️
Steady new buyers — ~28 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 16 → 27 → 25 → 28. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 24% medium
■ 25% new
84 out of 163 hedge funds have held PTNQ 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.
💰
Price up while funds trimmed (+14% value, -4% shares)
Last quarter: total value of institutional PTNQ holdings rose +14% even though funds reduced share count by 4%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
20 → 16 → 27 → 25 → 28 new funds/Q
New funds entering each quarter: 16 → 27 → 25 → 28. A growing number of institutions are discovering PTNQ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Veteran-anchored — 53% veterans vs 30% newcomers
■ 53% veterans
■ 17% 1-2yr
■ 30% new
Entry-cohort mix of 163 holders: 87 (53%) are 2+ year veterans, 27 entered 1–2 years ago, and 49 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 49% AUM from top-100 funds
49% from top-100 AUM funds
18 of 163 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in PTNQ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.