Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fuelcell Energy Inc (FCEL)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +84
Streak
4Q ▲
Buyers last Q
70%

Smart Money Signals — FCEL

Based on 228 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds added FCEL than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
228 hedge funds hold FCEL right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +133% more funds vs a year ago

fund count last 6Q
+130 new funds entered over the past year (+133% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 70% buying

165 buying71 selling
Last quarter: 165 funds were net buyers (112 opened a brand new position + 53 added to an existing one). Only 71 were sellers (43 trimmed + 28 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+79 vs last Q)

new funds entering per quarter
Funds opening a new FCEL position: 37 → 41 → 33 → 112. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 26% long-term, 46% new

■ 26% conviction (2yr+) ■ 28% medium ■ 46% new
Of the 228 current holders: 59 (26%) held >2 years, 64 held 1–2 years, and 105 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰

Value +892% but shares only +83% — price-driven

Value
+891%
Shares
+83%
Last quarter: the total dollar value of institutional holdings rose +892%, but actual share count only changed +83%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

26 → 37 → 41 → 33 → 112 new funds/Q
New funds entering each quarter: 37 → 41 → 33 → 112. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
📊

Mixed cohorts — 31% veterans, 49% new entrants

■ 31% veterans ■ 20% 1-2yr ■ 49% new
Of 251 current holders: 79 (31%) held 2+ years, 49 held 1–2 years, 123 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 53% AUM from top-100 funds

53% from top-100 AUM funds
48 of 221 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in FCEL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
5.3
out of 10
Moderate Exit Risk
Exit risk score 5.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

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 — FCEL

In 2026 Q2, 165 hedge funds were net buyers of FCEL (112 opened a new position, 53 added to an existing one), while 71 reduced or exited (43 trimmed, 28 sold completely) — a 70% buyer ratio, indicating clear institutional accumulation. This marks 4 consecutive quarters of net institutional buying — a persistent conviction signal. 53% of total institutional value in FCEL is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +84 funds (more new holders than closures). Total institutional holders: 228.

Hedge Fund Ownership: FCEL

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

Market Analysis: FCEL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FCEL

-- --

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

Is It Too Late to Buy Fuelcell Energy Inc (FCEL) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much FCEL has moved relative to its sector benchmark (XLI) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 59d ago
FCEL
-46.3%
XLI
-3.6%

FCEL outperformed XLI by -42.7% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 14d ago
FCEL
-13.6%
XLI
-4.2%

Since the filing became public, FCEL outperformed XLI by -9.4% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

11 top-rated funds 1 high-conviction
Consensus
4.7
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: FCEL
219 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 219 144 52.08%
13F Shares 52M 28M 83.18%
Total Value $1.79B $181M 890.74%
New Positions 110 33 +77
Increased Positions 53 43 +10
Closed Positions 28 26 +2
Reduced Positions 38 33 +5
Total Calls 18 8 125.0%
Total Puts 12 7 71.43%
PUT/CALL Ratio 0.67 0.88 Bullish

Statistics: FCEL

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

219 + investors

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

QUARTER:
Top 25 FCEL holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Anatole Investment Management Ltd 7.12% 1,165,501 $42.0M
2 REX Advisers, LLC 6.17% 75,900 $2.7M
3 Encompass Capital Advisors LLC 1.75% 1,365,900 $49.2M
4 Scientech Research LLC 1.74% 59,756 $2.2M
5 Crawford Fund Management, LLC 1.06% 191,800 $6.9M
6 Informed Momentum Co LLC 0.57% 178,858 $6.4M
7 MYDA Advisors LLC 0.54% 100,000 $3.6M
8 Mozayyx Management LLC 0.53% 15,250 $549K
9 Ardsley Advisory Partners LP 0.47% 125,000 $4.5M
10 Ardsley Advisory Partners LP 0.45% 120,000 $4.4M
11 Caitong International Asset Management Co., Ltd 0.26% 53,490 $1.9M
12 Sassicaia Capital Advisers LLC 0.26% 16,166 $582K
13 Alight Capital Management LP 0.25% 50,000 $1.8M
14 Innovative Asset Advisors Group, LLC 0.24% 15,250 $549K
15 Driehaus Capital Management LLC 0.21% 1,014,687 $36.5M
16 CenterBook Partners LP 0.19% 107,687 $3.9M
17 Sender Co & Partners, Inc. 0.19% 18,008 $648K
18 Trexquant Investment LP 0.16% 739,400 $26.6M
19 Aigen Investment Management, LP 0.15% 15,358 $553K
20 Lighthouse Investment Partners, LLC 0.14% 141,800 $5.1M
21 R Squared Ltd 0.12% 6,118 $220K
22 Quinn Opportunity Partners LLC 0.11% 67,000 $2.4M
23 MinichMacGregor Wealth Management, LLC 0.11% 20,013 $721K
24 MYDA Advisors LLC 0.11% 20,000 $720K
25 Defiance ETFs, LLC 0.09% 206,279 $6.6M
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 — Fuelcell Energy Inc (FCEL)

What does the Smart Money Trend signal show for FCEL?

Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added FCEL than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FCEL?

More buyers than sellers — 70% buying: Last quarter: 165 funds were net buyers (112 opened a brand new position + 53 added to an existing one). Only 71 were sellers (43 trimmed + 28 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FCEL holders?

Elite ownership — 53% AUM from top-100 funds: 48 of 221 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in FCEL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FCEL?

Mixed — 26% long-term, 46% new: Of the 228 current holders: 59 (26%) held >2 years, 64 held 1–2 years, and 105 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Is it too late to buy Fuelcell Energy Inc (FCEL) following the 2026 Q2 hedge fund 13F filings?

As of today, FCEL has moved -13.6% since the 2026 Q2 13F filing date (August 14, 2026), compared to -4.2% for the XLI sector ETF — an outperformance of -9.4%. Since the quarter end (June 30, 2026), FCEL has gained -46.3% vs -3.6% for XLI. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

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.

Full history →