Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

HALLADOR ENERGY COMPANY (HNRG)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +16
Streak
7Q ▲
Buyers last Q
56%

Smart Money Signals — HNRG

Based on 165 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 7 quarters in a row

last 6Q
For 7 consecutive quarters, more hedge funds added HNRG 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
165 hedge funds hold HNRG 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 — +33% more funds vs a year ago

fund count last 6Q
+41 new funds entered over the past year (+33% 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.
🟡

Slight buying edge — 56% buying

97 buying76 selling
Last quarter: 97 funds bought or added vs 76 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+20 vs last Q)

new funds entering per quarter
Funds opening a new HNRG position: 40 → 36 → 24 → 44. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

45% of holders stayed for 2+ years

■ 45% conviction (2yr+) ■ 27% medium ■ 28% new
75 out of 165 hedge funds have held HNRG 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 — ~44 new funds/quarter

30 → 40 → 36 → 24 → 44 new funds/Q
New funds entering each quarter: 40 → 36 → 24 → 44. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 56% of holders stayed 2+ years

■ 56% veterans ■ 11% 1-2yr ■ 34% new
Of 169 current holders: 94 (56%) 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 — 37% AUM from major funds

37% from top-100 AUM funds
28 of 165 holders rank in the top 100 by AUM, accounting for 37% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — 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 — HNRG

In 2025 Q4, 97 hedge funds were net buyers of HNRG (44 opened a new position, 53 added to an existing one), while 76 reduced or exited (48 trimmed, 28 sold completely) — a 56% buyer ratio, indicating a slight buying edge. This marks 7 consecutive quarters of net institutional buying — a persistent conviction signal. 37% of total institutional value in HNRG is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +16 funds (more new holders than closures). Total institutional holders: 165.

Hedge Fund Ownership: HNRG

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

Market Analysis: HNRG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HNRG

Energy Thermal Coal

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.

26 top-rated funds 1 high-conviction
Consensus
6.2
/ 10
breadth
×
Elite
1.6
/ 10
conviction
Hedge Fund Positioning: HNRG
2026 Q1 Stats Unlock in 7 days 169 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 169 165 2.42%
13F Shares 28M 28M -2.23%
Total Value $527M $553M -4.8%
New Positions 44 25 +19
Increased Positions 64 61 +3
Closed Positions 35 23 +12
Reduced Positions 53 85 -32
Total Calls 3 14 -78.57%
Total Puts 2 6 -66.67%
PUT/CALL Ratio 0.67 0.43 Bullish

Statistics: HNRG

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Institutional Holders (2026 Q1)

169 + investors

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

Top 25 institutional holders of HNRG — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Lubar & Co., Inc 74.56% 5,452,019 $88.8M
2 Western Standard LLC 1.96% 228,662 $3.7M
3 CenterBook Partners LP 0.37% 422,960 $6.9M
4 HOHIMER WEALTH MANAGEMENT, LLC 0.19% 98,050 $1.6M
5 Pekin Hardy Strauss, Inc. 0.14% 79,500 $1.3M
6 Byrne Asset Management LLC 0.09% 9,650 $157K
7 AdvisorShares Investments LLC 0.08% 28,600 $466K
8 ACORN CREEK CAPITAL LLC 0.06% 10,000 $163K
9 Counterpoint Mutual Funds LLC 0.04% 17,914 $292K
10 Penn Capital Management Company, LLC 0.03% 19,904 $324K
11 GRIFFIN ASSET MANAGEMENT, INC. 0.02% 13,140 $214K
12 MIRABELLA FINANCIAL SERVICES LLP 0.02% 12,968 $211K
13 BARINGS LLC 0.02% 69,239 $1.1M
14 Hilltop National Bank 0.02% 4,500 $73K
15 Walleye Trading LLC 0.01% 403,200 $6.6M
16 Forvis Mazars Wealth Advisors, LLC 0.01% 31,501 $513K
17 AlphaQuest LLC 0.01% 8,295 $158K
18 Vestcor Inc 0.01% 14,270 —
19 EXCHANGE TRADED CONCEPTS, LLC 0.01% 51,726 $842K
20 Connor, Clark & Lunn Investment Management Ltd. 0.01% 153,378 $2.5M
21 Nemes Rush Group LLC 0.01% 3,562 $58K
22 Hurley Capital, LLC 0.00% 500 $8K
23 Bleakley Financial Group, LLC 0.00% 16,979 $276K
24 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% 62,150 $1.0M
25 SUMMIT SECURITIES GROUP LLC 0.00% 1,908 $31K
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 — HALLADOR ENERGY COMPANY (HNRG)

What does the Smart Money Trend signal show for HNRG?

Buying streak — 7 quarters in a row: For 7 consecutive quarters, more hedge funds added HNRG 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 HNRG?

Slight buying edge — 56% buying: Last quarter: 97 funds bought or added vs 76 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for HNRG holders?

Strong quality — 37% AUM from major funds: 28 of 165 holders rank in the top 100 by AUM, accounting for 37% 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 HNRG?

45% of holders stayed for 2+ years: 75 out of 165 hedge funds have held HNRG 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.