Who owns PNI
Which tracked institutional funds hold PNI, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See PNI company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on PNI is one-sided between 2025-Q4 and 2026-Q1: 21 added or opened and 0 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
PNI’s largest tracked holder by dollar value, RIVERNORTH CAPITAL MANAGEMENT, LLC, sizes it at 0.4% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.4pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in PNI divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 57 tracked filers holding PNI, 55 increased or opened the position and 0 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in PNI between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 20
- RIVERNORTH CAPITAL MANAGEMENT, LLC$7M
- Matisse Capital$4M
- GUGGENHEIM CAPITAL LLC$3M
- Almitas Capital LLC$3M
- Saba Capital Management, L.P.$3M
- WHITEBOX ADVISORS LLC$3M
Largest adds
- Karpus Management, Inc.$530K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| RIVERNORTH CAPITAL MANAGEMENT, LLC trimmed | 1,057,865 | $7M | 13.5% | 2026-Q1 |
| Karpus Management, Inc. added | 735,635 | $5M | 9.4% | 2026-Q1 |
| Matisse Capital added | 618,726 | $4M | 7.9% | 2026-Q1 |
| GUGGENHEIM CAPITAL LLC added | 496,773 | $3M | 6.3% | 2026-Q1 |
| Almitas Capital LLC added | 488,740 | $3M | 6.2% | 2026-Q1 |
| Saba Capital Management, L.P. added | 434,145 | $3M | 5.5% | 2026-Q1 |
| WHITEBOX ADVISORS LLC added | 387,958 | $3M | 4.9% | 2026-Q1 |
| Hennion & Walsh Asset Management, Inc. trimmed | 363,389 | $2M | 4.6% | 2026-Q1 |
| Logan Stone Capital, LLC added | 355,556 | $2M | 4.5% | 2026-Q1 |
| ROBINSON CAPITAL MANAGEMENT, LLC added | 285,882 | $2M | 4.2% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. new | 235,718 | $2M | 3.0% | 2026-Q1 |
| RIVERBRIDGE PARTNERS LLC added | 223,261 | $2M | 2.8% | 2026-Q1 |
| Professional Financial Management, Inc. added | 188,852 | $1M | 2.4% | 2026-Q1 |
| MELFA WEALTH MANAGEMENT, INC. added | 169,509 | $1M | 2.2% | 2026-Q1 |
| MORGAN STANLEY added | 157,874 | $1M | 2.0% | 2026-Q1 |
| Bank of New York Mellon Corp added | 154,901 | $1M | 2.0% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 99,038 | $678K | 1.3% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 98,760 | $676K | 1.3% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 97,691 | $672K | 1.2% | 2026-Q1 |
| Verition Fund Management LLC trimmed | 95,521 | $654K | 1.2% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 89,559 | $613K | 1.1% | 2026-Q1 |
| Beckerman Institutional, LLC added | 75,711 | $519K | 1.0% | 2026-Q1 |
| Thomas J. Herzfeld Advisors, Inc. added | 75,124 | $515K | 1.0% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 63,559 | $435K | 0.8% | 2026-Q1 |
| Morse Asset Management, Inc trimmed | 61,825 | $424K | 0.8% | 2026-Q1 |
| Baird Financial Group, Inc. added | 61,134 | $419K | 0.8% | 2026-Q1 |
| SIT INVESTMENT ASSOCIATES INC trimmed | 54,374 | $372K | 0.7% | 2026-Q1 |
| Cetera Investment Advisers new | 48,557 | $333K | 0.6% | 2026-Q1 |
| HORIZON KINETICS ASSET MANAGEMENT LLC | 37,634 | $258K | 0.5% | 2026-Q1 |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC added | 33,489 | $229K | 0.4% | 2026-Q1 |
| Focus Partners Advisor Solutions, LLC added | 29,202 | $200K | 0.4% | 2026-Q1 |
| DOPKINS WEALTH MANAGEMENT, LLC | 28,646 | $196K | 0.4% | 2026-Q1 |
| MML INVESTORS SERVICES, LLC new | 28,116 | $193K | 0.4% | 2026-Q1 |
| UBS Group AG trimmed | 27,311 | $187K | 0.3% | 2026-Q1 |
| Catalina Capital Group, LLC added | 26,206 | $180K | 0.3% | 2026-Q1 |
| Dakota Wealth Management new | 24,500 | $168K | 0.3% | 2026-Q1 |
| Sowell Financial Services LLC new | 23,500 | $161K | 0.3% | 2026-Q1 |
| Maltin Wealth Management, Inc. trimmed | 21,924 | $150K | 0.3% | 2026-Q1 |
| Indivisible Partners new | 17,250 | $118K | 0.2% | 2026-Q1 |
| Compass Financial Group, INC/SD new | 16,303 | $112K | 0.2% | 2026-Q1 |
| LPL Financial LLC added | 14,743 | $101K | 0.2% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 14,499 | $99K | 0.2% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 12,226 | $84K | 0.2% | 2026-Q1 |
| Focus Partners Wealth new | 11,684 | $80K | 0.1% | 2026-Q1 |
| Herold Advisors, Inc. trimmed | 11,385 | $78K | 0.1% | 2026-Q1 |
| Wellspring Financial Advisors, LLC new | 11,058 | $76K | 0.1% | 2026-Q1 |
| Financially in Tune, LLC new | 10,531 | $72K | 0.1% | 2026-Q1 |
| Rockefeller Capital Management L.P. added | 10,427 | $71K | 0.1% | 2026-Q1 |
| Geneos Wealth Management Inc. | 9,732 | $67K | 0.1% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 9,537 | $65K | 0.1% | 2026-Q1 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC new | 7,538 | $52K | 0.1% | 2026-Q1 |
| IFP Advisors, Inc new | 6,800 | $47K | 0.1% | 2026-Q1 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 3,342 | $23K | 0.0% | 2026-Q1 |
| Daytona Street Capital LLC new | 2,588 | $18K | 0.0% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 1,000 | $7K | 0.0% | 2026-Q1 |
| FNY Investment Advisers, LLC | 200 | $1K | 0.0% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 1 | $5 | 0.0% | 2026-Q1 |
| Onyx Bridge Wealth Group LLC trimmed | 29,327 | $208K | 0.4% | 2025-Q1 stale |
| Noble Wealth Management PBC trimmed | 25,602 | $178K | 0.3% | 2025-Q3 stale |
| CITADEL ADVISORS LLC trimmed | 15,845 | $106K | 0.2% | 2025-Q2 stale |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. trimmed | 11,213 | $79K | 0.1% | 2025-Q1 stale |
| Steward Partners Investment Advisory, LLC added | 10,092 | $70K | 0.1% | 2025-Q3 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.