Based on 223 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds added PXF 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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At the ownership peak (100% of max)
100% of all-time peak
223 hedge funds hold PXF 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.
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Fast accumulation — +29% more funds vs a year ago
fund count last 6Q
+50 new funds entered over the past year (+29% 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.
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More buyers than sellers — 63% buying
112 buying65 selling
Last quarter: 112 funds were net buyers (40 opened a brand new position + 72 added to an existing one). Only 65 were sellers (59 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+25 vs last Q)
new funds entering per quarter
Funds opening a new PXF position: 23 → 25 → 15 → 40. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 21% medium
■ 23% new
126 out of 223 hedge funds have held PXF 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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Value +38% but shares only +6% — price-driven
Last quarter: the total dollar value of institutional holdings rose +38%, but actual share count only changed +6%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
13 → 23 → 25 → 15 → 40 new funds/Q
New funds entering each quarter: 23 → 25 → 15 → 40. A growing number of institutions are discovering PXF each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 61% of holders stayed 2+ years
■ 61% veterans
■ 14% 1-2yr
■ 25% new
Of 223 current holders: 136 (61%) 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.
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Elite ownership — 67% AUM from top-100 funds
67% from top-100 AUM funds
22 of 223 holders are among the 100 largest funds by AUM, controlling 67% of total institutional value in PXF. 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 3.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.