Abundance Bets Big on PureCycle, Adding 6.7 Million Shares of the Heavily Shorted Stock
Key Points
Acquired 6,722,837 PureCycle shares; estimated trade size $55.99 million (based on quarterly average price).
Quarter-end position value rose by $28.72 million, reflecting both additional shares and stock price movements.
Post-trade holding: 8,536,527 shares valued at $44.30 million as of March 31, 2026.
PureCycle now accounts for 6.35% of fund AUM, placing it outside the fund’s top five holdings.
- 10 stocks we like better than PureCycle Technologies ›
What happened
According to its SEC filing dated April 22, 2026, Abundance Wealth Counselors increased its stake in PureCycle Technologies (NASDAQ:PCT) by 6,722,837 shares during the first quarter. The estimated transaction value is $55.99 million, based on the average closing price for the quarter. The quarter-end value of the position rose by $28.72 million, a figure that reflects both the share addition and stock price changes over the period.
What else to know
- This filing reflects a buy; PureCycle comprises 6.35% of the fund’s 13F reportable AUM after the trade.
- Top holdings after the filing:
- NYSEMKT: IVV: $141.50 million (20.3% of AUM)
- NASDAQ: PCT: $44.3 million (6.35% of AUM)
- NYSEMKT: BCI: $38.66 million (5.5% of AUM)
- NYSEMKT: BAI: $36.71 million (5.3% of AUM)
- NASDAQ: ACWX: $35.08 million (5% of AUM)
- As of April 22, 2026, PureCycle shares were priced at $7.18, up 12.4% over the past year but underperforming the S&P 500 by 24.31 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $1.30 billion |
| Revenue (TTM) | $8.36 million |
| Net Income (TTM) | ($182.56 million) |
| Price (as of market close 4/22/26) | $7.18 |
Company Snapshot
- Produces ultra-pure recycled polypropylene resin using proprietary purification technology; revenue is primarily generated from resin sales.
- Operates a technology-driven recycling model, converting waste polypropylene into high-quality, virgin-like resin for commercial use.
- Targets manufacturers and brands seeking sustainable materials, particularly in packaging, consumer goods, and industrial applications.
PureCycle Technologies, Inc. is an industrial recycling company specializing in the production of high-purity recycled polypropylene from post-consumer waste. Leveraging a purification process, the company converts waste polypropylene into ultra-pure resin. The company produces ultra-pure recycled resin with properties similar to virgin polypropylene.
What this transaction means for investors
Founded in 2015, PureCycle Technologies is a small-cap industrial company whose expenses over the last 12 months exceeded its revenue. That makes it a relatively high-risk, high-potential-reward play on its polypropylene recycling services. At more than 6% of its assets under management, and in the No. 2 position, Abundance seems to have faith in PureCycle stock.
Although its financials may still be unproven, the company seems to be expanding its global reach and securing key partnerships. In March, the company announced it had signed a 40 million euro grant agreement from the Innovation Fund with the European Climate, Infrastructure and Environment Executive Agency (CINEA) to fund its ASTRA PP project in the NextGen District at the Port of Antwerp-Bruges. PureCycle will install a polypropylene dissolution recycling facility in Belgium, helping to contribute to the decarbonization and circularity objectives of various European green initiatives and providing its customers with solutions for complying with European Union climate-related regulations.
Yet many investors appear to remain skeptical about its valuation. According to Quiver Quantitative, short interest in PureCycle Technologies had risen to 40.15% as of March 31, a high percentage of the float that leaves this stock vulnerable to volatility. It had the highest short interest in the industrials sector as of the end of 2025, according to MSN.
The company will provide its first-quarter update on Wednesday, May 6.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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