Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fortinet Inc (FTNT)

2K + Investors. Track Smart Money conviction in FTNT. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +261
Streak
3Q ▲
Buyers last Q
56%

Smart Money Signals — FTNT

Based on 1585 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added FTNT 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
1,585 hedge funds hold FTNT 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.
📶

Steady growth — +15% more funds vs a year ago

fund count last 6Q
+207 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 56% buying

887 buying695 selling
Last quarter: 887 funds bought or added vs 695 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 (+215 vs last Q)

new funds entering per quarter
Funds opening a new FTNT position: 130 → 213 → 169 → 384. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

55% of holders stayed for 2+ years

■ 55% conviction (2yr+) ■ 22% medium ■ 23% new
876 out of 1,585 hedge funds have held FTNT 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.
💰

Value +133% but shares only +54% — price-driven

Value
+132%
Shares
+54%
Last quarter: the total dollar value of institutional holdings rose +133%, but actual share count only changed +54%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

175 → 130 → 213 → 169 → 384 new funds/Q
New funds entering each quarter: 130 → 213 → 169 → 384. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Veteran-anchored — 62% veterans vs 24% newcomers

■ 62% veterans ■ 14% 1-2yr ■ 24% new
Entry-cohort mix of 1,657 holders: 1,026 (62%) are 2+ year veterans, 232 entered 1–2 years ago, and 399 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 65% AUM from top-100 funds

65% from top-100 AUM funds
68 of 1575 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in FTNT. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — 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 — FTNT

In 2026 Q2, 887 hedge funds were net buyers of FTNT (384 opened a new position, 503 added to an existing one), while 695 reduced or exited (572 trimmed, 123 sold completely) — a 56% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 65% of total institutional value in FTNT is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +261 funds (more new holders than closures). Total institutional holders: 1585.

Hedge Fund Ownership: FTNT

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

Market Analysis: FTNT

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FTNT

-- --

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

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

Signal Freshness measures how much FTNT has moved relative to its sector benchmark (XLK) since the 2026 Q3 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 September 30, 2026 · 37d ago
FTNT
-31.5%
XLK
-17.0%

FTNT outperformed XLK by -14.5% since September 30, 2026.

Since 13F Filing Date November 14, 2026 · -8d ago
FTNT
+0.0%
XLK
+0.0%

Since the filing became public, FTNT outperformed XLK by +0.0% .

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 ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

49 top-rated funds 17 high-conviction
Consensus
7.4
/ 10
breadth
×
Elite
5.4
/ 10
conviction
Hedge Fund Positioning: FTNT
2026 Q3 Stats Unlock in 13 days 2K + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 1560 1324 17.82%
13F Shares 517M 429M 20.3%
Total Value $76.77B $33.45B 129.49%
New Positions 377 169 +208
Increased Positions 486 496 -10
Closed Positions 131 155 -24
Reduced Positions 546 488 +58
Total Calls 41 35 17.14%
Total Puts 41 33 24.24%
PUT/CALL Ratio 1.0 0.94 Neutral

Statistics: FTNT

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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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
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Net Income Avi to Common (ttm) --
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Total Cash (mrq) --
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Institutional Holders (2026 Q2)

2K + investors

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

QUARTER:
Top 25 FTNT holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 2Xideas AG 13.96% 211,151 $32.4M
2 Aldebaran Financial Inc. 7.50% 60,166 $9.2M
3 Ravenstone Capital Management Inc. 6.36% 101,116 $15.5M
4 Gladstone Capital Management LLP 6.04% 397,555 $61.1M
5 one8zero8, LLC 5.72% 187,993 $28.9M
6 Spurstone Advisory Services, LLC 5.43% 2,500 $397K
7 Fulcrum Capital LLC 5.15% 165,206 $25.4M
8 American Capital Management Inc 5.03% 729,885 $112.1M
9 Palmer Knight Co 4.77% 80,657 $12.4M
10 Account Management LLC 4.54% 29,268 $4.5M
11 Nutshell Asset Management Ltd 4.44% 86,641 $13.3M
12 Knuff & Co LLC 4.11% 105,607 $16.2M
13 Fundsmith LLP 4.09% 3,629,938 $557.6M
14 Fundsmith Investment Services LTD. 3.83% 1,126,234 $173.0M
15 Revere Asset Management, Inc 3.83% 64,888 $10.0M
16 Peak Asset Management, LLC 3.59% 159,052 $24.4M
17 Warther Private Wealth, LLC 3.41% 101,127 $15.5M
18 KRS Capital Management, LLC 3.27% 45,720 $7.0M
19 First National Bank of Mount Dora, Trust Investment Services 3.25% 105,670 $16.2M
20 Axecap Investments, LLC 3.21% 37,736 $5.8M
21 Carderock Capital Management Inc 3.08% 91,400 $14.0M
22 MRP Capital Investments, LLC 3.07% 27,143 $4.2M
23 Gilpin Wealth Management, LLC 3.02% 28,411 $4.4M
24 Woodstock Corp 2.96% 231,904 $35.6M
25 Front Row Advisors LLC 2.86% 61,115 $9.9M
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

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Frequently Asked Questions — Fortinet Inc (FTNT)

What does the Smart Money Trend signal show for FTNT?

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

Slight buying edge — 56% buying: Last quarter: 887 funds bought or added vs 695 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 FTNT holders?

Elite ownership — 65% AUM from top-100 funds: 68 of 1575 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in FTNT. 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 FTNT?

55% of holders stayed for 2+ years: 876 out of 1,585 hedge funds have held FTNT 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.

Is it too late to buy Fortinet Inc (FTNT) following the 2026 Q3 hedge fund 13F filings?

As of today, FTNT has moved +0.0% since the 2026 Q3 13F filing date (November 14, 2026), compared to +0.0% for the XLK sector ETF — an outperformance of +0.0%. Since the quarter end (September 30, 2026), FTNT has gained -31.5% vs -17.0% for XLK. 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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