Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Equinox Gold Corp (EQX)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -2
Streak
1Q ▼
Buyers last Q
50%

Smart Money Signals — EQX

Based on 306 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their EQX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (99% of max)

99% of all-time peak
306 hedge funds hold EQX 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 — +37% more funds vs a year ago

fund count last 6Q
+83 new funds entered over the past year (+37% 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 — 50% buying

166 buying165 selling
Last quarter: 166 funds bought or added vs 165 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.
⚠️

Fewer new buyers each quarter (-38 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 62 → 53 → 89 → 51. 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.
📌

Mixed — 38% long-term, 30% new

■ 38% conviction (2yr+) ■ 31% medium ■ 30% new
Of the 306 current holders: 117 (38%) held >2 years, 96 held 1–2 years, and 93 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.
💎

Buying through price weakness — shares +3%, value -15%

Value
-15%
Shares
+2%
Last quarter: funds added +3% more shares while total portfolio value only changed -15%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

50 → 62 → 53 → 89 → 51 new funds/Q
New funds entering each quarter: 62 → 53 → 89 → 51. A growing number of institutions are discovering EQX each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 51% of holders stayed 2+ years

■ 51% veterans ■ 12% 1-2yr ■ 38% new
Of 328 current holders: 166 (51%) 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.
🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds
45 of 306 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in EQX. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — 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 — EQX

In 2026 Q1, 166 hedge funds were net buyers of EQX (51 opened a new position, 115 added to an existing one), while 165 reduced or exited (112 trimmed, 53 sold completely) — a 50% buyer ratio, indicating a slight buying edge. 42% of total institutional value in EQX is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -2 funds (more exits than new entries). Total institutional holders: 306.

Hedge Fund Ownership: EQX

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

Market Analysis: EQX

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: EQX

-- --

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

Is It Too Late to Buy Equinox Gold Corp (EQX) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much EQX 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 · 75d ago
EQX
-28.1%
SPY
+14.1%

EQX outperformed SPY by -42.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
EQX
-21.4%
SPY
+0.3%

Since the filing became public, EQX outperformed SPY by -21.7% .

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 ?
Growing Institutional Interest

Quality funds are building positions — conviction is rising but not yet widespread.

25 top-rated funds 12 high-conviction
Consensus
6.1
/ 10
breadth
×
Elite
7.4
/ 10
conviction
Hedge Fund Positioning: EQX
305 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 305 308 -0.97%
13F Shares 451M 440M 2.46%
Total Value $5.23B $6.20B -15.77%
New Positions 51 89 -38
Increased Positions 102 87 +15
Closed Positions 54 31 +23
Reduced Positions 105 100 +5
Total Calls 14 23 -39.13%
Total Puts 13 12 8.33%
PUT/CALL Ratio 0.93 0.52 Neutral

Statistics: EQX

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Valuation Measures Data as of: --

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Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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

305 + investors

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

QUARTER:
Top 25 EQX holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Merk Investments LLC 19.24% 4,900,000 $70.8M
2 L1 Capital Pty Ltd 13.82% 24,331,165 $351.8M
3 Gemsstock Ltd. 12.62% 8,282,105 $119.8M
4 Aegis Financial Corp 9.63% 3,880,964 $55.9M
5 Maple Rock Capital Partners Inc. 9.14% 19,424,648 $280.8M
6 Evergreen Quality Fund GP, Ltd. 4.18% 12,635,844 $182.7M
7 Sprott INC. 3.99% 9,505,436 $137.3M
8 Thomist Capital Management, LP 3.47% 890,919 $12.9M
9 Builder Investment Group Inc /Adv 3.34% 1,063,604 $15.4M
10 Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. 3.28% 127,700 $1.8M
11 Hatch Cove Capital, LLC 2.79% 506,000 $7.3M
12 Ruffer LLP 2.44% 4,126,835 $59.7M
13 PCJ Investment Counsel Ltd. 2.28% 555,385 $8.0M
14 Global Strategic Management Inc 2.10% 175,178 $2.5M
15 Muhlenkamp & Co Inc 1.98% 519,219 $7.5M
16 PenderFund Capital Management Ltd. 1.84% 812,500 $11.7M
17 Bard Associates Inc 1.42% 391,513 $5.7M
18 Orion Resource Partners LP 1.40% 211,493 $3.1M
19 Parvin Asset Management, LLC 1.24% 119,016 $1.7M
20 Fiscal Wisdom Wealth Management, LLC 1.16% 83,604 $1.2M
21 Louisbourg Investments INC. 1.02% 375,900 $5.4M
22 Goehring & Rozencwajg Associates, LLC 1.00% 1,283,253 $18.5M
23 Themes Management Co LLC 0.92% 102,995 $1.5M
24 Gmt Capital Corp 0.73% 1,110,700 $16.1M
25 Susquehanna Advisors Group, INC. 0.66% 1,398,304 $20.2M
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 — Equinox Gold Corp (EQX)

What does the Smart Money Trend signal show for EQX?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their EQX 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 EQX?

Slight buying edge — 50% buying: Last quarter: 166 funds bought or added vs 165 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 EQX holders?

Elite ownership — 42% AUM from top-100 funds: 45 of 306 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in EQX. 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 EQX?

Mixed — 38% long-term, 30% new: Of the 306 current holders: 117 (38%) held >2 years, 96 held 1–2 years, and 93 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 Equinox Gold Corp (EQX) following the 2026 Q1 hedge fund 13F filings?

As of today, EQX has moved -21.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.3% for the SPY sector ETF — an outperformance of -21.7%. Since the quarter end (March 31, 2026), EQX has gained -28.1% vs +14.1% 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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