Based on 90 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added PMO 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.
📊
High ownership — 92% of 3.0Y peak
92% of all-time peak
90 funds currently hold this stock — 92% of the 3.0-year high of 98 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +5% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 4 quarters from the low — a sharp move.
🟠
More sellers than buyers — 43% buying
29 buying39 selling
Last quarter: 39 funds reduced or exited vs 29 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 11 → 11 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 17% medium
■ 19% new
58 out of 90 hedge funds have held PMO 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 — ~10 new funds/quarter
17 → 5 → 11 → 11 → 10 new funds/Q
New funds entering each quarter: 5 → 11 → 11 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 66% veterans vs 20% newcomers
■ 66% veterans
■ 14% 1-2yr
■ 20% new
Entry-cohort mix of 90 holders: 59 (66%) are 2+ year veterans, 13 entered 1–2 years ago, and 18 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
12 of 90 holders rank in the top 100 by AUM, accounting for 23% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.