PDF SOLUTIONS INC PDFS
COM · Common Stock · CUSIP 693282105 · ISIN US6932821050
Company based in San Jose, California
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 39.1m as of 2025-05-02, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $19.11. Options: 3 managers hold calls ($126.1k notional), 2 hold puts ($49.7k).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 136 |
| Q4 2022 | 151 |
| Q1 2023 | 179 |
| Q2 2023 | 181 |
| Q3 2023 | 185 |
| Q4 2023 | 199 |
| Q1 2024 | 181 |
| Q2 2024 | 174 |
| Q3 2024 | 177 |
| Q4 2024 | 179 |
| Q1 2025 | 169 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 97 | 86 |
| Q3 2023 | 105 | 83 |
| Q4 2023 | 116 | 75 |
| Q1 2024 | 73 | 110 |
| Q2 2024 | 84 | 90 |
| Q3 2024 | 85 | 84 |
| Q4 2024 | 82 | 87 |
| Q1 2025 | 88 | 87 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $58.2k | $3.6k | 0.06 |
| Q3 2024 | $82.4k | $9.5k | 0.12 |
| Q4 2024 | $59.6k | $478.8k | 8.04 |
| Q1 2025 | $126.1k | $49.7k | 0.39 |
Biggest buyers
| JANUS HENDERSON GROUP PLC | Added | +153.7k |
| ACADIAN ASSET MANAGEMENT LLC | Added | +129.6k |
| HERALD INVESTMENT MANAGEMENT Ltd | Added | +125.0k |
| Penn Capital Management Company, LLC | New | +108.6k |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +101.6k |
| D. E. Shaw & Co., Inc. | Added | +100.8k |
| CenterBook Partners LP | Added | +89.7k |
| MARSHALL WACE, LLP | New | +89.3k |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +79.9k |
| Bridge City Capital, LLC | New | +79.9k |
Biggest sellers
| Ophir Asset Management Pty Ltd | Sold out | -784.1k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | Sold out | -290.6k |
| GOLDMAN SACHS GROUP INC | Reduced | -156.7k |
| ROYCE & ASSOCIATES LP | Reduced | -144.2k |
| Granahan Investment Management, LLC | Sold out | -129.2k |
| Samjo Management, LLC | Reduced | -105.7k |
| RAYMOND JAMES FINANCIAL INC | Sold out | -91.7k |
| Divisar Capital Management LLC | Reduced | -73.5k |
| Thrivent Financial for Lutherans | Reduced | -69.9k |
| NEXT CENTURY GROWTH INVESTORS LLC | Sold out | -65.7k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $122.3k6.4k shares |
| GROUP ONE TRADING LLC | New | $3.8k200 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $49.7k2.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| KIBARIAN JOHN KACHIG 13G · exempt (held before listing) no change · filed 2026-02-17 | 6.5% |
| WASATCH ADVISORS LP 13G · institution new · filed 2026-10-09 | 6.3% |
| NEEDHAM INVESTMENT MANAGEMENT LLC 13G · institution +0.2 pts · filed 2026-05-14 | 5.1% |
Fell to 5% or below in the last year: ADVANTEST CORP (0.0%, 2026-05-27), VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 1 | $102.8k | — |
| Q4 2023 | 0 | — | 2 | $232.8k | — |
| Q1 2024 | 0 | — | 2 | $892.7k | — |
| Q2 2024 | 0 | — | 2 | $1.1m | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 2 | $406.8k | — |
| Q1 2025 | 2 | $1.2m | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-02-25 | KIBARIAN JOHN KACHIG PRESIDENT AND CEO, director · By Trust | Bought | $345.9k15.6k shares |
| 2025-02-24 | KIBARIAN JOHN KACHIG PRESIDENT AND CEO, director · By Trust | Bought | $783.3k34.4k shares |
| 2025-02-24 | GUSTAFSON MICHAEL B Director | Bought | $92.2k4.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 4.9m $93.6m | Reduced -63.5k |
| VANGUARD GROUP INC 0.00% of their portfolio | 3.2m $60.4m | Reduced -14.5k |
| NEEDHAM INVESTMENT MANAGEMENT LLC 3.34% of their portfolio | 1.9m $35.6m | Added +47.5k |
| WASATCH ADVISORS LP 0.12% of their portfolio | 1.1m $22.0m | Reduced -37.0k |
| STATE STREET CORP 0.00% of their portfolio | 1.1m $22.0m | Reduced -53.4k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio | 1.1m $21.5m | Added +62.4k |
| EMERALD ADVISERS, LLC 0.80% of their portfolio | 924.8k $17.7m | Added +433 |
| Ranger Investment Management, L.P. 1.20% of their portfolio | 877.1k $16.8m | Reduced -9.7k |
| Samjo Management, LLC 7.05% of their portfolio | 870.2k $16.6m | Reduced -105.7k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 854.2k $16.3m | Reduced -56.1k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 801.6k $15.5m | Added +153.7k |
| SNYDER CAPITAL MANAGEMENT L P 0.31% of their portfolio | 753.6k $14.4m | Reduced -25.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 740.1k $14.1m | Added +4.5k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.84% of their portfolio | 618.4k $11.8m | Unchanged |
| Divisar Capital Management LLC 2.72% of their portfolio | 547.2k $10.5m | Reduced -73.5k |
| MORGAN STANLEY 0.00% of their portfolio | 452.2k $8.6m | Added +17.8k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 393.9k $7.5m | Reduced -11.3k |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 348.8k $6.7m | Reduced -69.9k |
| Silverberg Bernstein Capital Management LLC 5.84% of their portfolio | 328.3k $6.3m | Added +28.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 282.8k $5.4m | Added +11.9k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 259.1k $5.0m | Added +65.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 250.2k $4.8m | Added +101.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 206.2k $3.9m | Reduced -2.5k |
| HERALD INVESTMENT MANAGEMENT Ltd 0.72% of their portfolio | 200.0k $3.8m | Added +125.0k |
| FMR LLC 0.00% of their portfolio | 189.4k $3.6m | Added +71.7k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 178.7k $3.4m | Added +100.8k |
| ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio | 169.1k $3.2m | Added +129.6k |
| SEGALL BRYANT & HAMILL, LLC 0.05% of their portfolio | 164.2k $3.1m | Reduced -4.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 154.9k $3.0m | Added +3.5k |
| Nuveen, LLC 0.00% of their portfolio | 137.5k $2.6m | First filing |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 117.9k $2.3m | Added +79.9k |
| CenterBook Partners LP 0.14% of their portfolio | 116.9k $2.2m | Added +89.7k |
| Penn Capital Management Company, LLC 0.20% of their portfolio | 108.6k $2.1m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 107.3k $2.0m | Reduced -2.7k |
| Public Sector Pension Investment Board 0.01% of their portfolio | 98.3k $1.9m | Added +20.7k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 98.2k $1.9m | Added +285 |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 95.3k $1.8m | Reduced -156.7k |
| Invesco Ltd. 0.00% of their portfolio | 90.3k $1.7m | Added +2.1k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 89.3k $1.7m | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 87.6k $1.7m | Reduced -780 |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 87.6k $1.7m | Added +62.5k |
| Legal & General Group Plc 0.00% of their portfolio | 86.9k $1.7m | Reduced -2.8k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 85.4k $1.6m | Reduced -18.9k |
| UBS Group AG 0.00% of their portfolio | 84.2k $1.6m | Added +2.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 80.0k $1.5m | Reduced -24.6k |
| Bridge City Capital, LLC 0.46% of their portfolio | 79.9k $1.5m | New |
| ALGERT GLOBAL LLC 0.04% of their portfolio | 74.4k $1.4m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 73.9k $1.4m | Added +57.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 69.9k $1.3m | Added +4.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 69.4k $1.3m | Reduced -1.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 68.6k $1.3m | Reduced -22.2k |
| Dana Investment Advisors, Inc. 0.05% of their portfolio | 66.5k $1.3m | Added +10.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 61.5k $1.2m | Added +467 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 61.0k $1.2m | Added +45.1k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 60.9k $1.2m | Added +32.4k |
| Swiss National Bank 0.00% of their portfolio | 60.1k $1.1m | Reduced -900 |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 53.4k $1.0m | Added +32.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 52.8k $1.0m | Reduced -30.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 52.2k $996.7k | Added +8.4k |
| ROYCE & ASSOCIATES LP 0.01% of their portfolio | 48.5k $927.1k | Reduced -144.2k |
| Fisher Asset Management, LLC 0.00% of their portfolio | 47.3k $904.1k | Reduced -75 |
| CITIGROUP INC 0.00% of their portfolio | 46.3k $885.3k | Reduced -1.2k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio | 43.8k $836.6k | New |
| BARCLAYS PLC 0.00% of their portfolio | 42.0k $802.0k | Reduced -15.2k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 40.2k $769.0k | Reduced -4.9k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 40.0k $765.3k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 38.0k $727.0k | Added +22.3k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 38.0k $727.0k | New |
| Creative Planning 0.00% of their portfolio | 36.6k $699.2k | Added +24.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 34.3k $655.6k | Reduced -23 |
| Man Group plc 0.00% of their portfolio | 32.1k $612.8k | New |
| Williams Jones Wealth Management, LLC. 0.01% of their portfolio | 32.0k $611.5k | Unchanged |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 31.1k $594.9k | Reduced -424 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 29.0k $554.6k | Unchanged |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 28.5k $544.6k | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 27.7k $530.1k | Reduced -4.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 27.1k $518.1k | Added +18.2k |
| GSA CAPITAL PARTNERS LLP 0.05% of their portfolio | 26.2k $500.0k | Reduced -14.5k |
| Pathstone Holdings, LLC 0.00% of their portfolio | 25.3k $484.4k | Added +13.5k |
| Verition Fund Management LLC 0.00% of their portfolio | 24.1k $461.2k | Added +2.5k |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 23.2k $443.4k | Reduced -43.7k |
| Petrus Trust Company, LTA 0.04% of their portfolio | 21.9k $418.2k | New |
| State of Tennessee, Department of Treasury 0.00% of their portfolio | 20.9k $399.2k | Unchanged |
| SG Americas Securities, LLC 0.00% of their portfolio | 20.3k $388.0k | Added +16.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 20.2k $386.2k | First filing |
| Amundi 0.00% of their portfolio | 19.9k $346.4k | Added +19.9k |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 19.9k $380.1k | Added +6.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 19.1k $365.0k | Added +5.5k |
| Legato Capital Management LLC 0.05% of their portfolio | 18.9k $360.7k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 18.7k $357.2k | Reduced -302 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 18.5k $352.9k | Added +753 |
| Inspire Investing, LLC 0.04% of their portfolio | 17.9k $342.8k | Added +3.1k |
| State of Alaska, Department of Revenue 0.00% of their portfolio | 17.2k $328.0k | Reduced -396 |
| Kings Path Partners LLC 0.16% of their portfolio | 17.0k $325.6k | Reduced -10.7k |
| PITCAIRN CO 0.02% of their portfolio | 16.3k $311.6k | Added +3.3k |
| Corebridge Financial, Inc. 0.00% of their portfolio | 16.2k $310.5k | Reduced -319 |
| Illinois Municipal Retirement Fund 0.00% of their portfolio | 16.2k $309.7k | Reduced -1.0k |
| Nebula Research & Development LLC 0.03% of their portfolio | 16.1k $308.4k | Added +5.8k |
| AlphaQuest LLC 0.03% of their portfolio | 16.1k $307.8k | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 16.0k $306.5k | Added +394 |