Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Figs Inc (FIGS)

238 + Investors. Track Smart Money conviction in FIGS. 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
53%

Smart Money Signals — FIGS

Based on 240 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their FIGS 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
240 hedge funds hold FIGS 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 — +41% more funds vs a year ago

fund count last 6Q
+70 new funds entered over the past year (+41% 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. The peak was reached in just 4 quarters from the low — a sharp move.
🟡

Slight buying edge — 53% buying

140 buying125 selling
Last quarter: 140 funds bought or added vs 125 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 (-12 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 41 → 49 → 62 → 50. 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.
🔒

50% of holders stayed for 2+ years

■ 50% conviction (2yr+) ■ 21% medium ■ 29% new
120 out of 240 hedge funds have held FIGS 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.
💎

Buying through price weakness — shares +3%, value -22%

Value
-22%
Shares
+3%
Last quarter: funds added +3% more shares while total portfolio value only changed -22%. 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

32 → 41 → 49 → 62 → 50 new funds/Q
New funds entering each quarter: 41 → 49 → 62 → 50. A growing number of institutions are discovering FIGS each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 61% veterans vs 27% newcomers

■ 61% veterans ■ 12% 1-2yr ■ 27% new
Entry-cohort mix of 250 holders: 152 (61%) are 2+ year veterans, 31 entered 1–2 years ago, and 67 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 34% AUM from major funds

34% from top-100 AUM funds
48 of 239 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — 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 — FIGS

In 2026 Q2, 140 hedge funds were net buyers of FIGS (50 opened a new position, 90 added to an existing one), while 125 reduced or exited (73 trimmed, 52 sold completely) — a 53% buyer ratio, indicating a slight buying edge. 34% of total institutional value in FIGS is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -2 funds (more exits than new entries). Total institutional holders: 240.

Hedge Fund Ownership: FIGS

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

Market Analysis: FIGS

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FIGS

-- --

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.

9 top-rated funds 0 high-conviction
Consensus
4.3
/ 10
breadth
×
Elite
0.7
/ 10
conviction
Hedge Fund Positioning: FIGS
238 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 238 242 -1.65%
13F Shares 157M 153M 2.48%
Total Value $1.61B $2.22B -27.58%
New Positions 50 62 -12
Increased Positions 86 79 +7
Closed Positions 53 27 +26
Reduced Positions 70 68 +2
Total Calls 6 8 -25.0%
Total Puts 5 4 25.0%
PUT/CALL Ratio 0.83 0.5 Neutral

Statistics: FIGS

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
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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 Q2)

238 + investors

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

QUARTER:
Top 25 FIGS holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Applied Fundamental Research, LLC 8.44% 697,247 $7.1M
2 Malaga Cove Capital, LLC 1.11% 341,365 $3.5M
3 Bamco Inc /Ny/ 0.92% 59,959,449 $613.4M
4 Divisadero Street Capital Management, LP 0.74% 3,191,026 $32.6M
5 Black Creek Investment Management Inc. 0.62% 1,080,138 $11.0M
6 Intrinsic Value Partners, LLC 0.43% 62,035 $635K
7 Hedges Asset Management LLC 0.43% 63,500 $650K
8 Precision Wealth Strategies, LLC 0.33% 107,752 $1.1M
9 Driehaus Capital Management LLC 0.31% 5,161,238 $52.8M
10 VARCOV Co. 0.25% 65,487 $670K
11 Verdad Advisers, LP 0.21% 21,483 $220K
12 Rice Hall James & Associates, LLC 0.20% 411,012 $4.2M
13 nVerses Capital, LLC 0.20% 12,831 $131K
14 Dark Forest Capital Management LP 0.18% 277,638 $2.8M
15 Wakefield Asset Management LLLP 0.18% 79,092 $809K
16 Integrated Quantitative Investments LLC 0.13% 80,008 $818K
17 Formula Growth Ltd 0.13% 36,500 $373K
18 Fox Run Management, L.L.C. 0.13% 76,775 $785K
19 Hillsdale Investment Management Inc. 0.12% 501,910 $5.1M
20 Sierra Summit Advisors LLC 0.11% 95,473 $977K
21 Aster Capital Management (DIFC) Ltd 0.09% 68,061 $384K
22 Potomac Capital Management, Inc. 0.09% 12,500 $128K
23 Net Worth Advisory Group 0.08% 32,511 $333K
24 Jacobs Levy Equity Management, Inc 0.07% 2,012,570 $20.6M
25 State of Wyoming 0.07% 65,259 $668K
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 — Figs Inc (FIGS)

What does the Smart Money Trend signal show for FIGS?

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

Slight buying edge — 53% buying: Last quarter: 140 funds bought or added vs 125 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 FIGS holders?

Strong quality — 34% AUM from major funds: 48 of 239 holders rank in the top 100 by AUM, accounting for 34% 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 FIGS?

50% of holders stayed for 2+ years: 120 out of 240 hedge funds have held FIGS 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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