Based on 149 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 PUBM 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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High ownership — 80% of 3.0Y peak
80% of all-time peak
149 funds currently hold this stock — 80% of the 3.0-year high of 186 funds (reached 2024 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 PUBM is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 52% buying
85 buying80 selling
Last quarter: 85 funds bought or added vs 80 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.
➡️
Steady new buyers — ~29 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 38 → 22 → 28 → 29. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 30% medium
■ 16% new
81 out of 149 hedge funds have held PUBM 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.
➡️
Steady discovery — ~29 new funds/quarter
24 → 38 → 22 → 28 → 29 new funds/Q
New funds entering each quarter: 38 → 22 → 28 → 29. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 13% 1-2yr
■ 18% new
Of 158 current holders: 109 (69%) 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.
✅
Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
30 of 149 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.