Based on 50 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added PDSB 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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Below peak — only 67% of 3.0Y high
67% of all-time peak
Only 50 funds hold PDSB today versus a peak of 75 funds at 2023 Q3 — just 67% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 9% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold PDSB compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 69% buying
27 buying12 selling
Last quarter: 27 funds were net buyers (14 opened a brand new position + 13 added to an existing one). Only 12 were sellers (7 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~14 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 9 → 10 → 14. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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62% of holders stayed for 2+ years
■ 62% conviction (2yr+)
■ 16% medium
■ 22% new
31 out of 50 hedge funds have held PDSB 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 +106% but shares only +43% — price-driven
Last quarter: the total dollar value of institutional holdings rose +106%, but actual share count only changed +43%. 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 → 9 → 9 → 10 → 14 new funds/Q
New funds entering each quarter: 9 → 9 → 10 → 14. A growing number of institutions are discovering PDSB each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 63% veterans vs 25% newcomers
■ 63% veterans
■ 12% 1-2yr
■ 25% new
Entry-cohort mix of 51 holders: 32 (63%) are 2+ year veterans, 6 entered 1–2 years ago, and 13 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 31% AUM from major funds
31% from top-100 AUM funds
15 of 49 holders rank in the top 100 by AUM, accounting for 31% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.