Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Sndl Inc (SNDL)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -3
Streak
3Q ▼
Buyers last Q
49%

Smart Money Signals — SNDL

Based on 107 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds reduced or closed their SNDL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 85% of 3.0Y peak

85% of all-time peak
107 funds currently hold this stock — 85% of the 3.0-year high of 126 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 13% fewer funds vs a year ago

fund count last 6Q
16 fewer hedge funds hold SNDL compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 49% buying

50 buying52 selling
Last quarter: 52 funds reduced or exited vs 50 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 — ~19 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 28 → 19 → 15 → 19. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

54% of holders stayed for 2+ years

■ 54% conviction (2yr+) ■ 26% medium ■ 20% new
58 out of 107 hedge funds have held SNDL 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.
📊

Peak discovery — momentum slowing

29 → 28 → 19 → 15 → 19 new funds/Q
New funds entering each quarter: 28 → 19 → 15 → 19. SNDL is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 65% veterans vs 19% newcomers

■ 65% veterans ■ 15% 1-2yr ■ 19% new
Entry-cohort mix of 113 holders: 74 (65%) are 2+ year veterans, 17 entered 1–2 years ago, and 22 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds
21 of 107 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in SNDL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — 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 — SNDL

In 2026 Q2, 50 hedge funds were net buyers of SNDL (19 opened a new position, 31 added to an existing one), while 52 reduced or exited (30 trimmed, 22 sold completely) — a 49% buyer ratio, indicating roughly balanced activity. This extends a 3-quarter selling streak, suggesting sustained institutional caution. 42% of total institutional value in SNDL is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -3 funds (more exits than new entries). Total institutional holders: 107.

Hedge Fund Ownership: SNDL

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

Market Analysis: SNDL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SNDL

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

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

3 top-rated funds 0 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
0.2
/ 10
conviction
Hedge Fund Positioning: SNDL
107 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 107 110 -2.73%
13F Shares 52M 56M -6.68%
Total Value $70M $73M -3.59%
New Positions 19 15 +4
Increased Positions 31 32 -1
Closed Positions 22 22 -
Reduced Positions 27 27 -
Total Calls 3 3 -
Total Puts 3 3 -
PUT/CALL Ratio 1.0 1.0 Neutral

Statistics: SNDL

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Financial Highlights

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Institutional Holders (2026 Q2)

107 + investors

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

QUARTER:
Top 25 SNDL holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Cannell Capital LLC 7.82% 8,639,381 $11.7M
2 Ewing Morris & Co. Investment Partners Ltd. 1.04% 1,481,222 $2.0M
3 Connective Capital Management, LLC 0.09% 95,656 $129K
4 AdvisorShares Investments LLC 0.07% 400,728 $541K
5 R Squared Ltd 0.04% 52,225 $71K
6 Baader Bank Aktiengesellschaft 0.03% 250,000 $338K
7 State of Wyoming 0.02% 174,091 $235K
8 Magnus Financial Group LLC 0.02% 229,246 $309K
9 WINTON GROUP Ltd 0.02% 500,453 $676K
10 RBF Capital, LLC 0.01% 250,000 $338K
11 Tidal Investments LLC 0.01% 5,334,370 $7.2M
12 Headlands Technologies LLC 0.01% 77,995 $105K
13 PFS Partners, LLC 0.01% 18,000 $24K
14 Cable Car Capital, LP 0.01% 306,195 $413K
15 Jeppson Wealth Management, LLC 0.01% 20,000 $27K
16 OneDigital Investment Advisors LLC 0.01% 585,135 $790K
17 Leonteq Securities AG 0.01% 122,479 $165K
18 Aquatic Capital Management LLC 0.01% 112,658 $152K
19 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% 2,113,976 $2.9M
20 FSM Wealth Advisors, LLC 0.00% 20,000 $27K
21 Two Sigma Securities, LLC 0.00% 24,678 $33K
22 Man Group plc 0.00% 909,470 $1.2M
23 Renaissance Technologies LLC 0.00% 1,051,792 $1.4M
24 StoneX Group Inc. 0.00% 33,464 $46K
25 Lazard Asset Management LLC 0.00% 864,433 $1.2M
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 — Sndl Inc (SNDL)

What does the Smart Money Trend signal show for SNDL?

Selling streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds reduced or closed their SNDL positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for SNDL?

More sellers than buyers — 49% buying: Last quarter: 52 funds reduced or exited vs 50 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 SNDL holders?

Elite ownership — 42% AUM from top-100 funds: 21 of 107 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in SNDL. 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 SNDL?

54% of holders stayed for 2+ years: 58 out of 107 hedge funds have held SNDL 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.

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