Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

FS SPECIALTY LENDING FD (FSSL)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +6
Streak
2Q ▲
Buyers last Q
44%

Smart Money Signals — FSSL

Based on 246 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added FSSL 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
246 hedge funds hold FSSL 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 — +24500% more funds vs a year ago

fund count last 6Q
+245 new funds entered over the past year (+24500% 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 sellers than buyers — 44% buying

114 buying147 selling
Last quarter: 147 funds reduced or exited vs 114 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.
⚠️

Fewer new buyers each quarter (-181 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 239 → 58. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄

Mostly new holders — 100% entered in last year

■ 0% conviction (2yr+) ■ 0% medium ■ 100% new
Only 1 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎

Buying through price weakness — shares +37%, value +3%

Value
+3%
Shares
+36%
Last quarter: funds added +37% more shares while total portfolio value only changed +3%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~58 new funds/quarter

0 → 0 → 0 → 239 → 58 new funds/Q
New funds entering each quarter: 0 → 0 → 239 → 58. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱

Early stage — 100% of holders entered in last year

■ 0% veterans ■ 0% 1-2yr ■ 100% new
Of 246 current holders: 245 (100%) entered in the past year, only 1 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋

Smaller funds dominant — 14% AUM from top-100

14% from top-100 AUM funds
11 of 246 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
7.8
out of 10
High Exit Risk
Exit risk score 7.8/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 44% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.

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 — FSSL

In 2026 Q1, 114 hedge funds were net buyers of FSSL (58 opened a new position, 56 added to an existing one), while 147 reduced or exited (95 trimmed, 52 sold completely) — a 44% buyer ratio, indicating roughly balanced activity. Net buying has persisted for two consecutive quarters, a positive momentum signal. Net fund flow last quarter: +6 funds (more new holders than closures). Total institutional holders: 246.

Hedge Fund Ownership: FSSL

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

Market Analysis: FSSL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FSSL

-- --

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

Is It Too Late to Buy FS SPECIALTY LENDING FD (FSSL) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much FSSL has moved relative to its sector benchmark (SPY) since the 2026 Q1 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 March 31, 2026 · 59d ago
FSSL
+9.5%
SPY
+16.0%

FSSL outperformed SPY by -6.5% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 14d ago
FSSL
+1.5%
SPY
+2.1%

Since the filing became public, FSSL outperformed SPY by -0.6% .

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.

9 top-rated funds 3 high-conviction
Consensus
4.3
/ 10
breadth
×
Elite
2.7
/ 10
conviction
Hedge Fund Positioning: FSSL
246 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 246 240 2.5%
13F Shares 31M 23M 36.78%
Total Value $329M $318M 3.22%
New Positions 58 240 -182
Increased Positions 56 0 +56
Closed Positions 52 0 +52
Reduced Positions 95 0 +95
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FSSL

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Price/Book (mrq) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
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Total Cash (mrq) --
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Institutional Holders (2026 Q1)

246 + investors

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

QUARTER:
Top 25 institutional holders of FSSL — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Thomas J. Herzfeld Advisors, Inc. 11.95% 2,808,727 $35.1M
2 OAK HILL ADVISORS LP 3.94% 2,766,277 $34.6M
3 North Ground Capital 3.77% 250,000 $3.1M
4 Matisse Capital 2.41% 452,200 $5.7M
5 GCM Grosvenor Holdings, LLC 2.01% 1,448,654 $18.1M
6 Closed-End Fund Advisors, Inc. 1.67% 130,980 $1.6M
7 RIVERNORTH CAPITAL MANAGEMENT, LLC 1.45% 2,315,114 $29.0M
8 CERTIOR FINANCIAL GROUP, LLC 1.00% 125,636 $1.6M
9 Almitas Capital LLC 0.76% 268,810 $3.4M
10 SIT INVESTMENT ASSOCIATES INC 0.61% 2,409,441 $30K
11 COFG Advisors, LLC 0.58% 186,469 $2.3M
12 WEST MICHIGAN ADVISORS, LLC 0.31% 111,482 $1.4M
13 ROBINSON CAPITAL MANAGEMENT, LLC 0.28% 53,416 $660K
14 Ellis Investment Partners, LLC 0.21% 95,103 $1.2M
15 Penserra Capital Management LLC 0.19% 1,313,268 $16K
16 Clarion Wealth Managment Partners, LLC 0.18% 15,742 $197K
17 TrueMark Investments, LLC 0.16% 67,304 $842K
18 Huntleigh Advisors, Inc. 0.16% 74,014 $926K
19 Redwood Wealth Management Group, LLC 0.14% 26,531 $332K
20 Advisor Resource Council 0.12% 29,784 $373K
21 Legacy Wealth Managment, LLC/ID 0.11% 17,003 $213K
22 ROSS\JOHNSON & Associates LLC 0.10% 439 $5K
23 ABSOLUTE INVESTMENT ADVISERS, LLC 0.10% 66,654 $834K
24 PERRYMAN FINANCIAL ADVISORY INC /AD 0.10% 52,055 $651K
25 INDEPENDENT FINANCIAL GROUP, LLC 0.10% 253,764 $3.2M
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 — FS SPECIALTY LENDING FD (FSSL)

What does the Smart Money Trend signal show for FSSL?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added FSSL 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 FSSL?

More sellers than buyers — 44% buying: Last quarter: 147 funds reduced or exited vs 114 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 FSSL holders?

Smaller funds dominant — 14% AUM from top-100: 11 of 246 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held FSSL?

Mostly new holders — 100% entered in last year: Only 1 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Is it too late to buy FS SPECIALTY LENDING FD (FSSL) following the 2026 Q1 hedge fund 13F filings?

As of today, FSSL has moved +1.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.1% for the SPY sector ETF — an outperformance of -0.6%. Since the quarter end (March 31, 2026), FSSL has gained +9.5% vs +16.0% for SPY. 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.

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