Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

ALGONQUIN POWER & UTILITIES (AQN)

244 + Investors. Track Smart Money conviction in AQN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
→ 0
Streak
1Q —
Buyers last Q
49%

Smart Money Signals — AQN

Based on 238 hedge funds · latest filing: 2025 Q4 · updated quarterly

➡️

No change last quarter

last 6Q
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊

High ownership — 94% of 3.0Y peak

94% of all-time peak
238 funds currently hold this stock — 94% of the 3.0-year high of 253 funds (reached 2023 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶

Steady growth — +11% more funds vs a year ago

fund count last 6Q
+23 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 49% buying

115 buying121 selling
Last quarter: 121 funds reduced or exited vs 115 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~32 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 32 → 41 → 33 → 32. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 26% medium ■ 14% new
142 out of 238 hedge funds have held AQN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~32 new funds/quarter

30 → 32 → 41 → 33 → 32 new funds/Q
New funds entering each quarter: 32 → 41 → 33 → 32. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 68% of holders stayed 2+ years

■ 68% veterans ■ 14% 1-2yr ■ 17% new
Of 244 current holders: 167 (68%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 28% AUM from major funds

28% from top-100 AUM funds
33 of 238 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.2
out of 10
Low Exit Risk
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — AQN

In 2025 Q4, 115 hedge funds were net buyers of AQN (32 opened a new position, 83 added to an existing one), while 121 reduced or exited (89 trimmed, 32 sold completely) — a 49% buyer ratio, indicating roughly balanced activity. 28% of total institutional value in AQN is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: flat (entries and exits balanced). Total institutional holders: 238.

Hedge Fund Ownership: AQN

How many hedge funds hold AQN — quarterly history vs. share price
Quarterly hedge fund ownership of AQN vs. share price

Market Analysis: AQN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: AQN

Utilities Utilities - Diversified

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

35 top-rated funds 1 high-conviction
Consensus
6.8
/ 10
breadth
×
Elite
2.0
/ 10
conviction
Hedge Fund Positioning: AQN
2026 Q1 Stats Unlock in 8 days 244 + Investors

Track Smart Money conviction in AQN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 244 244 -
13F Shares 522M 506M 3.28%
Total Value $3.22B $2.72B 18.25%
New Positions 32 33 -1
Increased Positions 91 99 -8
Closed Positions 32 22 +10
Reduced Positions 99 91 +8
Total Calls 4 4 -
Total Puts 3 3 -
PUT/CALL Ratio 0.75 0.75 Neutral

Statistics: AQN

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Beta (5Y Monthly) --
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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

244 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in AQN. Verified SEC 13F-HR filings.

Top 25 institutional holders of AQN — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 CIDEL ASSET MANAGEMENT INC 1.18% 3,535,918 $21.6M
2 PRIVATE MANAGEMENT GROUP INC 1.12% 6,361,329 $39.1M
3 INTACT INVESTMENT MANAGEMENT INC. 0.58% 3,302,119 $20.2M
4 Triasima Portfolio Management inc. 0.57% 622,325 $3.8M
5 RWC Asset Management LLP 0.57% 2,231,500 $13.7M
6 HEARTLAND ADVISORS INC 0.44% 1,392,030 $8.5M
7 Euro Pacific Asset Management, LLC 0.43% 703,450 $4K
8 Krilogy Financial LLC 0.29% 1,387,165 $8.9M
9 Post Resch Tallon Group Inc. 0.22% 43,000 $271K
10 Tacita Capital Inc 0.22% 60,462 $369K
11 Samalin Investment Counsel, LLC 0.21% 95,933 $589K
12 CWA Asset Management Group, LLC 0.13% 619,470 $3.8M
13 TERRIL BROTHERS, INC. 0.09% 56,328 $346K
14 Alberta Investment Management Corp 0.09% 2,377,140 $14.6M
15 JOHN G ULLMAN & ASSOCIATES INC 0.07% 85,250 $521K
16 CREDIT INDUSTRIEL ET COMMERCIAL 0.06% 130,000 $798K
17 A. D. Beadell Investment Counsel, Inc. 0.05% 12,500 —
18 WEDGE CAPITAL MANAGEMENT L L P/NC 0.05% 419,781 $2.6M
19 Value Partners Investments Inc. 0.05% 99,759 $610K
20 PRINCIPAL FINANCIAL GROUP INC 0.04% 13,633,904 $83.5M
21 Connor, Clark & Lunn Investment Management Ltd. 0.04% 2,983,176 $18.3M
22 111 Capital 0.03% 23,057 $141K
23 HENNESSY ADVISORS INC 0.03% 141,064 $866K
24 NATURAL INVESTMENTS, LLC 0.03% 20,177 —
25 BFSG, LLC 0.03% 47,310 $290K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — ALGONQUIN POWER & UTILITIES (AQN)

What does the Smart Money Trend signal show for AQN?

No change last quarter: The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.

What is the institutional breadth score for AQN?

More sellers than buyers — 49% buying: Last quarter: 121 funds reduced or exited vs 115 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for AQN holders?

Strong quality — 28% AUM from major funds: 33 of 238 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held AQN?

60% of holders stayed for 2+ years: 142 out of 238 hedge funds have held AQN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.