Penumbra
439 hedge funds and large institutions have $11.4B invested in Penumbra in 2025 Q4 according to their latest regulatory filings, with 79 funds opening new positions, 124 increasing their positions, 178 reducing their positions, and 53 closing their positions.
263% more call options, than puts
Call options by funds: $53M | Put options by funds: $14.6M
50% more funds holding in top 10
Funds holding in top 10: 4 → 6 (+2)
49% more first-time investments, than exits
New positions opened: 79 | Existing positions closed: 53
24% more capital invested
Capital invested by funds: $9.19B → $11.4B (+$2.25B)
4% more funds holding
Funds holding: 421 → 439 (+18)
0.9% more ownership
Funds ownership: 93.04% → 93.94% (+0.9%)
30% less repeat investments, than reductions
Existing positions increased: 124 | Existing positions reduced: 178
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$123M |
| 2 |
Artisan Partners
Milwaukee,
Wisconsin
|
+$102M |
| 3 |
William Blair Investment Management
Chicago,
Illinois
|
+$95.6M |
| 4 |
SC
Samlyn Capital
New York
|
+$58.8M |
| 5 |
WP
Woodline Partners
San Francisco,
California
|
+$56.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$210M |
| 2 |
Morgan Stanley
New York
|
-$46.4M |
| 3 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$44.2M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$41.5M |
| 5 |
CIP
Champlain Investment Partners
Burlington,
Vermont
|
-$32.1M |
PEN Hedge Fund Activity: Q4 2025 in Review
439 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in Penumbra (PEN) for Q4 2025, worth a combined $11.4B — up 24% from $9.19B a quarter earlier.
Buyers outnumbered sellers: 79 funds opened new PEN positions and 53 closed out — a net gain of 26 holders — while 124 added to existing stakes and 178 trimmed.
The largest buyer was Millennium Management, adding an estimated $123M. The largest seller was Fidelity Investments, cutting an estimated $210M.
- 439 institutional investors held Penumbra (PEN) as of Q4 2025, up from 421 in Q3 2025.
- Funds reported $11.4B of Penumbra stock for Q4 2025, up 24% quarter-over-quarter.
- 79 funds opened new Penumbra positions in Q4 2025 and 53 closed out, a net change of +26 holders.
- The largest Penumbra buyer in Q4 2025 was Millennium Management, an estimated $123M added.
- The largest Penumbra seller in Q4 2025 was Fidelity Investments, an estimated $210M sold.
Based on aggregated 13F filings for Q4 2025.