Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Carlsmed Inc (CARL)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +8
Streak
3Q ▲
Buyers last Q
53%

Smart Money Signals — CARL

Based on 64 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added CARL 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
64 hedge funds hold CARL 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 — +6300% more funds vs a year ago

fund count last 6Q
+63 new funds entered over the past year (+6300% 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 — 53% buying

35 buying31 selling
Last quarter: 35 funds bought or added vs 31 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.
➡️

Steady new buyers — ~21 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 0 → 45 → 17 → 21. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 95% entered in last year

■ 3% conviction (2yr+) ■ 2% medium ■ 95% new
Only 2 funds (3%) 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 +13%, value -17%

Value
-17%
Shares
+13%
Last quarter: funds added +13% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊

Peak discovery — momentum slowing

0 → 0 → 45 → 17 → 21 new funds/Q
New funds entering each quarter: 0 → 45 → 17 → 21. CARL is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱

Early stage — 95% of holders entered in last year

■ 5% veterans ■ 0% 1-2yr ■ 95% new
Of 64 current holders: 61 (95%) entered in the past year, only 3 (5%) 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.
✅

Strong quality — 33% AUM from major funds

33% from top-100 AUM funds
22 of 64 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
7.4
out of 10
High Exit Risk
Exit risk score 7.4/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. 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 — CARL

In 2026 Q1, 35 hedge funds were net buyers of CARL (21 opened a new position, 14 added to an existing one), while 31 reduced or exited (18 trimmed, 13 sold completely) — a 53% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 33% of total institutional value in CARL is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +8 funds (more new holders than closures). Total institutional holders: 64.

Hedge Fund Ownership: CARL

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

Market Analysis: CARL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: CARL

-- --

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

Is It Too Late to Buy Carlsmed Inc (CARL) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much CARL has moved relative to its sector benchmark (XLV) 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 · 85d ago
CARL
+18.1%
XLV
+2.8%

CARL outperformed XLV by +15.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 40d ago
CARL
-2.9%
XLV
+3.9%

Since the filing became public, CARL outperformed XLV by -6.8% .

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 0 high-conviction
Consensus
4.3
/ 10
breadth
×
Elite
0.1
/ 10
conviction
Hedge Fund Positioning: CARL
63 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 63 56 12.5%
13F Shares 5M 5M 13.26%
Total Value $48M $58M -16.97%
New Positions 20 17 +3
Increased Positions 14 19 -5
Closed Positions 13 7 +6
Reduced Positions 18 9 +9
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: CARL

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 Q1)

63 + investors

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

QUARTER:
Top 25 CARL holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Parkman Healthcare Partners LLC 0.49% 521,123 $4.7M
2 KCM Capital Inc 0.29% 200,000 $1.8M
3 Orbimed Advisors LLC 0.22% 1,252,600 $11.3M
4 Burkehill Global Management, LP 0.02% 50,000 $452K
5 Schonfeld Strategic Advisors LLC 0.02% 283,180 $2.6M
6 Board of Trustees of The Leland Stanford Junior University 0.01% 12,516 $113K
7 Kornitzer Capital Management Inc /Ks 0.01% 53,432 $484K
8 Wesbanco Bank Inc 0.01% 37,000 $335K
9 Janus Henderson Group plc 0.01% 1,227,452 $11.1M
10 XTX Topco Ltd 0.00% 24,738 $224K
11 Russell Investments Group, Ltd. 0.00% 159,291 $1.4M
12 Quadrature Capital Ltd 0.00% 13,352 $121K
13 Centiva Capital, LP 0.00% 12,745 $115K
14 TD Waterhouse Canada Inc. 0.00% 20,000 $192K
15 Tower Research Capital LLC (TRC) 0.00% 1,669 $15K
16 Hrt Financial LP 0.00% 12,337 $111K
17 Boston Partners 0.00% 25,201 $228K
18 Mercer Global Advisors Inc /Adv 0.00% 15,093 $137K
19 Sunrise Financial Services, LLC 0.00% 26 —
20 Ameritas Investment Partners, Inc. 0.00% 565 $5K
21 Renaissance Technologies LLC 0.00% 10,400 $94K
22 Vanguard Fiduciary Trust Co 0.00% 45,399 $411K
23 Police & Firemen's Retirement System of New Jersey 0.00% 1,258 $11K
24 BlackRock, Inc. 0.00% 446,892 $4.0M
25 Citadel Advisors LLC 0.00% 44,595 $404K
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 — Carlsmed Inc (CARL)

What does the Smart Money Trend signal show for CARL?

Buying streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds added CARL 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 CARL?

Slight buying edge — 53% buying: Last quarter: 35 funds bought or added vs 31 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 CARL holders?

Strong quality — 33% AUM from major funds: 22 of 64 holders rank in the top 100 by AUM, accounting for 33% 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 CARL?

Mostly new holders — 95% entered in last year: Only 2 funds (3%) 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 Carlsmed Inc (CARL) following the 2026 Q1 hedge fund 13F filings?

As of today, CARL has moved -2.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.9% for the XLV sector ETF — an outperformance of -6.8%. Since the quarter end (March 31, 2026), CARL has gained +18.1% vs +2.8% for XLV. 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 →