Based on 22 hedge funds · latest filing: 2025 Q4 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊
High ownership — 79% of 3.0Y peak
79% of all-time peak
22 funds currently hold this stock — 79% of the 3.0-year high of 28 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 19% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold PVI compared to a year ago (-19% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 67% buying
16 buying8 selling
Last quarter: 16 funds were net buyers (5 opened a brand new position + 11 added to an existing one). Only 8 were sellers (3 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 2 → 5 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
45% of holders stayed for 2+ years
■ 45% conviction (2yr+)
■ 36% medium
■ 18% new
10 out of 22 hedge funds have held PVI 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 — ~5 new funds/quarter
4 → 4 → 2 → 5 → 5 new funds/Q
New funds entering each quarter: 4 → 2 → 5 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 50% of holders stayed 2+ years
■ 50% veterans
■ 18% 1-2yr
■ 32% new
Of 22 current holders: 11 (50%) 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
4 of 22 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.