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 ($366.5k this quarter). Holder counts are more reliable. Shares outstanding: 39.5m as of 2025-08-01, 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 ≈ $21.38. Options: 2 managers hold calls ($8.6k notional), 1 hold puts ($0).
Trends to Q2 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 |
| Q2 2025 | 174 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 104 | 66 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $82.4k | $9.5k | 0.12 |
| Q4 2024 | $59.6k | $478.8k | 8.04 |
| Q1 2025 | $126.1k | $49.7k | 0.39 |
| Q2 2025 | $8.6k | $0 | 0.00 |
Biggest buyers
| Nuveen, LLC | Added | +170.9k |
| Ranger Investment Management, L.P. | Added | +168.4k |
| MAK CAPITAL ONE LLC | New | +160.0k |
| Kent Lake PR LLC | New | +142.2k |
| MORGAN STANLEY | Added | +115.5k |
| RICE HALL JAMES & ASSOCIATES, LLC | New | +91.7k |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +91.1k |
| Silverberg Bernstein Capital Management LLC | Added | +90.5k |
| Qube Research & Technologies Ltd | Added | +69.2k |
| Samjo Management, LLC | Added | +65.6k |
Biggest sellers
| Thrivent Financial for Lutherans | Reduced | -325.8k |
| BlackRock, Inc. | Reduced | -97.7k |
| JANE STREET GROUP, LLC | Sold out | -60.9k |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -59.5k |
| ROYCE & ASSOCIATES LP | Sold out | -48.5k |
| STATE OF WISCONSIN INVESTMENT BOARD | Reduced | -47.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -42.1k |
| MARSHALL WACE, LLP | Reduced | -40.6k |
| EMERALD MUTUAL FUND ADVISERS TRUST | Reduced | -37.0k |
| Squarepoint Ops LLC | Reduced | -34.4k |
Biggest calls
| GROUP ONE TRADING LLC | Added | $8.6k400 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2025 | 1 | $145.9k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-13 | GUSTAFSON MICHAEL B Director | Bought | $145.9k7.5k 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, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 4.8m $102.6m | Reduced -97.7k |
| VANGUARD GROUP INC 0.00% of their portfolio | 3.2m $68.1m | Added +25.4k |
| NEEDHAM INVESTMENT MANAGEMENT LLC 3.26% of their portfolio | 1.9m $40.9m | Added +48.5k |
| WASATCH ADVISORS LP 0.13% of their portfolio | 1.2m $25.5m | Added +42.0k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio | 1.2m $25.4m | Added +61.1k |
| STATE STREET CORP 0.00% of their portfolio | 1.1m $24.3m | Reduced -12.0k |
| Ranger Investment Management, L.P. 1.56% of their portfolio | 1.0m $22.4m | Added +168.4k |
| EMERALD ADVISERS, LLC 0.75% of their portfolio | 954.4k $20.4m | Added +29.6k |
| Samjo Management, LLC 8.44% of their portfolio | 935.8k $20.0m | Added +65.6k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 846.5k $18.1m | Reduced -7.8k |
| SNYDER CAPITAL MANAGEMENT L P 0.37% of their portfolio | 812.6k $17.4m | Added +59.0k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 801.6k $17.1m | Added +9 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 784.7k $16.8m | Added +44.6k |
| Divisar Capital Management LLC 3.02% of their portfolio | 611.4k $13.1m | Added +64.2k |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.76% of their portfolio | 581.4k $12.4m | Reduced -37.0k |
| MORGAN STANLEY 0.00% of their portfolio | 567.7k $12.1m | Added +115.5k |
| Silverberg Bernstein Capital Management LLC 6.14% of their portfolio | 418.8k $9.0m | Added +90.5k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 372.5k $8.0m | Reduced -21.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.03% of their portfolio | 341.2k $7.3m | Added +91.1k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 314.7k $6.7m | Added +55.6k |
| Nuveen, LLC 0.00% of their portfolio | 308.4k $6.6m | Added +170.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 288.5k $6.2m | Added +5.8k |
| FMR LLC 0.00% of their portfolio | 230.7k $4.9m | Added +41.3k |
| ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio | 211.2k $4.5m | Added +42.1k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 210.1k $4.5m | Added +3.9k |
| HERALD INVESTMENT MANAGEMENT Ltd 0.63% of their portfolio | 200.0k $4.3m | Unchanged |
| SEGALL BRYANT & HAMILL, LLC 0.06% of their portfolio | 197.7k $4.2m | Added +33.5k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 172.9k $3.7m | Reduced -5.8k |
| MAK CAPITAL ONE LLC 0.60% of their portfolio | 160.0k $3.4m | New |
| CenterBook Partners LP 0.19% of their portfolio | 158.8k $3.4m | Added +41.9k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 156.8k $3.4m | Added +69.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 155.4k $3.3m | Added +494 |
| Kent Lake PR LLC 1.34% of their portfolio | 142.2k $3.0m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 132.3k $2.8m | Added +46.9k |
| UBS Group AG 0.00% of their portfolio | 120.0k $2.6m | Added +35.8k |
| Penn Capital Management Company, LLC 0.21% of their portfolio | 114.7k $2.5m | Added +6.0k |
| Public Sector Pension Investment Board 0.01% of their portfolio | 106.8k $2.3m | Added +8.5k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 106.4k $2.3m | Added +8.2k |
| ALGERT GLOBAL LLC 0.05% of their portfolio | 104.7k $2.2m | Added +30.3k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 104.6k $2.2m | Added +35.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 103.4k $2.2m | Added +34.8k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 102.7k $2.2m | Reduced -4.6k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 102.1k $2.2m | Added +48.7k |
| Invesco Ltd. 0.00% of their portfolio | 96.9k $2.1m | Added +6.6k |
| RICE HALL JAMES & ASSOCIATES, LLC 0.11% of their portfolio | 91.7k $2.0m | New |
| Legal & General Group Plc 0.00% of their portfolio | 89.3k $1.9m | Added +2.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 85.6k $1.8m | Added +15.7k |
| Bridge City Capital, LLC 0.50% of their portfolio | 83.7k $1.8m | Added +3.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 69.3k $1.5m | Added +16.5k |
| ArrowMark Colorado Holdings LLC 0.03% of their portfolio | 65.0k $1.4m | New |
| BARCLAYS PLC 0.00% of their portfolio | 63.4k $1.4m | Added +21.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 63.0k $1.3m | Added +2.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 63.0k $1.3m | Reduced -32.3k |
| Swiss National Bank 0.00% of their portfolio | 60.1k $1.3m | Unchanged |
| Dana Investment Advisors, Inc. 0.04% of their portfolio | 59.4k $1.3m | Reduced -7.1k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 58.4k $1.2m | Reduced -59.5k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 54.9k $1.2m | Added +27.2k |
| Squarepoint Ops LLC 0.00% of their portfolio | 53.2k $1.1m | Reduced -34.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 52.0k $1.1m | Reduced -28.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 49.6k $1.1m | Reduced -2.6k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 48.7k $1.0m | Reduced -40.6k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.04% of their portfolio | 48.4k $1.0m | New |
| Walleye Capital LLC 0.01% of their portfolio | 46.6k $996.4k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 46.2k $988.2k | Added +8.2k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 44.6k $952.0k | Added +25.5k |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 44.2k $945.0k | New |
| Fisher Asset Management, LLC 0.00% of their portfolio | 43.7k $933.9k | Reduced -3.6k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.02% of their portfolio | 42.4k $906.4k | Reduced -1.4k |
| LOOMIS SAYLES & CO L P 0.00% of their portfolio | 41.5k $888.3k | New |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 40.2k $859.0k | Unchanged |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 40.0k $856.2k | Unchanged |
| Creative Planning 0.00% of their portfolio | 38.7k $828.1k | Added +2.1k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 36.4k $778.8k | Reduced -1.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 33.4k $713.7k | Reduced -925 |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 33.0k $705.1k | Added +1.9k |
| Williams Jones Wealth Management, LLC. 0.01% of their portfolio | 32.0k $684.2k | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 31.8k $679.4k | Reduced -42.1k |
| CITIGROUP INC 0.00% of their portfolio | 31.2k $666.1k | Reduced -15.2k |
| State of Tennessee, Department of Treasury 0.00% of their portfolio | 30.1k $644.0k | Added +9.2k |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 29.7k $635.7k | Added +14.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 29.0k $620.5k | Unchanged |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 29.0k $620.0k | Added +500 |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 28.0k $597.9k | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 27.1k $579.6k | Unchanged |
| Magnetar Financial LLC 0.00% of their portfolio | 23.7k $507.2k | New |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 23.2k $496.1k | Unchanged |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 23.0k $492.0k | Reduced -325.8k |
| Kings Path Partners LLC 0.20% of their portfolio | 22.9k $488.5k | Added +5.8k |
| Verition Fund Management LLC 0.00% of their portfolio | 22.0k $470.1k | Reduced -2.1k |
| Amundi 0.00% of their portfolio | 20.0k $452.4k | Added +75 |
| Legato Capital Management LLC 0.05% of their portfolio | 18.9k $403.6k | Unchanged |
| Pathstone Holdings, LLC 0.00% of their portfolio | 18.7k $400.4k | Reduced -6.6k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 18.7k $399.6k | Unchanged |
| Significant Wealth Partners LLC 0.20% of their portfolio | 18.7k $399.0k | Added +6.1k |
| State of Alaska, Department of Revenue 0.00% of their portfolio | 18.6k $397.0k | Added +1.5k |
| Inspire Investing, LLC 0.04% of their portfolio | 18.5k $394.8k | Added +525 |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 17.6k $377.4k | Reduced -2.2k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 17.5k $374.0k | Reduced -973 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 16.9k $361.0k | Added +844 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 16.0k $342.0k | Added +2.3k |