Based on 67 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added PDEX 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
67 hedge funds hold PDEX 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 — +31% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+31% 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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Slight buying edge — 58% buying
40 buying29 selling
Last quarter: 40 funds bought or added vs 29 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.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new PDEX position: 14 → 7 → 12 → 19. 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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Mixed — 31% long-term, 33% new
■ 31% conviction (2yr+)
■ 36% medium
■ 33% new
Of the 67 current holders: 21 (31%) held >2 years, 24 held 1–2 years, and 22 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Value +22% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +22%, but actual share count only changed +3%. 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
22 → 14 → 7 → 12 → 19 new funds/Q
New funds entering each quarter: 14 → 7 → 12 → 19. A growing number of institutions are discovering PDEX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 42% veterans vs 48% newcomers
■ 42% veterans
■ 10% 1-2yr
■ 48% new
Entry-cohort mix of 67 holders: 28 (42%) are 2+ year veterans, 7 entered 1–2 years ago, and 32 (48%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 60% AUM from top-100 funds
60% from top-100 AUM funds
26 of 67 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in PDEX. 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.