Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Horizon Bancorp Ind (HBNC)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -8
Streak
2Q ▼
Buyers last Q
52%

Smart Money Signals — HBNC

Based on 194 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their HBNC 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 (95% of max)

95% of all-time peak
194 hedge funds hold HBNC 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 — +7% more funds vs a year ago

fund count last 6Q
+13 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 52% buying

93 buying86 selling
Last quarter: 93 funds bought or added vs 86 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 — ~24 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 20 → 44 → 23 → 24. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

58% of holders stayed for 2+ years

■ 58% conviction (2yr+) ■ 22% medium ■ 20% new
112 out of 194 hedge funds have held HBNC 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

20 → 20 → 44 → 23 → 24 new funds/Q
New funds entering each quarter: 20 → 44 → 23 → 24. HBNC 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 — 63% veterans vs 22% newcomers

■ 63% veterans ■ 15% 1-2yr ■ 22% new
Entry-cohort mix of 196 holders: 124 (63%) are 2+ year veterans, 29 entered 1–2 years ago, and 43 (22%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 35% AUM from major funds

35% from top-100 AUM funds
43 of 194 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.4
out of 10
Low Exit Risk
Exit risk score 3.4/10 — 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 — HBNC

In 2026 Q1, 93 hedge funds were net buyers of HBNC (24 opened a new position, 69 added to an existing one), while 86 reduced or exited (54 trimmed, 32 sold completely) — a 52% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. 35% of total institutional value in HBNC is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -8 funds (more exits than new entries). Total institutional holders: 194.

Hedge Fund Ownership: HBNC

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

Market Analysis: HBNC

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HBNC

-- --

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

Is It Too Late to Buy Horizon Bancorp Ind (HBNC) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much HBNC has moved relative to its sector benchmark (XLF) 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 · 80d ago
HBNC
+16.7%
XLF
+9.5%

HBNC outperformed XLF by +7.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 35d ago
HBNC
+9.9%
XLF
+5.8%

Since the filing became public, HBNC outperformed XLF by +4.1% .

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.

19 top-rated funds 1 high-conviction
Consensus
5.6
/ 10
breadth
×
Elite
2.0
/ 10
conviction
Hedge Fund Positioning: HBNC
193 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 193 202 -4.46%
13F Shares 40M 40M -1.24%
Total Value $634M $672M -5.78%
New Positions 23 23 -
Increased Positions 69 83 -14
Closed Positions 32 26 +6
Reduced Positions 52 60 -8
Total Calls 2 1 100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: HBNC

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Institutional Holders (2026 Q1)

193 + investors

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

QUARTER:
Top 25 HBNC holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 PL Capital Advisors, LLC 9.06% 1,812,825 $30.0M
2 Elizabeth Park Capital Advisors, Ltd. 3.63% 284,669 $4.7M
3 Jacobs Asset Management, LLC 2.63% 265,000 $4.4M
4 Maltese Capital Management LLC 2.47% 757,287 $12.5M
5 FJ Capital Management LLC 2.41% 1,291,208 $21.4M
6 Stieven Capital Advisors, L.P. 1.98% 559,410 $9.3M
7 Pacific Ridge Capital Partners, LLC 1.54% 428,647 $7.1M
8 Siena Capital Partners GP, LLC 0.86% 200,000 $3.3M
9 Bayview Asset Management, LLC 0.75% 118,372 $2.0M
10 Sapient Capital LLC 0.52% 2,080,012 $34.5M
11 Minerva Advisors LLC 0.37% 35,052 $581K
12 Harbour Trust & Investment Management Co 0.37% 209,244 $3.5M
13 Thurston, Springer, Miller, Herd & Titak, INC. 0.25% 35,913 $595K
14 Indiana Trust & Investment Management Co 0.20% 38,700 $641K
15 Atom Investors LP 0.18% 154,724 $2.6M
16 Kennedy Capital Management LLC 0.17% 492,635 $8.2M
17 B.O.S.S. Retirement Advisors, LLC 0.16% 31,276 $518K
18 HoldCo Asset Management, LP 0.11% 91,756 $1.5M
19 Numerai GP LLC 0.08% 45,653 $756K
20 Oxford Financial Group, LTD. LLC 0.07% 82,814 $1.4M
21 Mangrove Partners IM, LLC 0.07% 52,556 $871K
22 Deprince Race & Zollo Inc 0.05% 147,982 $2.5M
23 Counterpoint Mutual Funds LLC 0.05% 18,329 $304K
24 Ami Investment Management Inc 0.04% 11,323 $188K
25 Inspire Investing, LLC 0.04% 30,920 $512K
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 — Horizon Bancorp Ind (HBNC)

What does the Smart Money Trend signal show for HBNC?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their HBNC 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 HBNC?

Slight buying edge — 52% buying: Last quarter: 93 funds bought or added vs 86 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 HBNC holders?

Strong quality — 35% AUM from major funds: 43 of 194 holders rank in the top 100 by AUM, accounting for 35% 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 HBNC?

58% of holders stayed for 2+ years: 112 out of 194 hedge funds have held HBNC 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 Horizon Bancorp Ind (HBNC) following the 2026 Q1 hedge fund 13F filings?

As of today, HBNC has moved +9.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.8% for the XLF sector ETF — an outperformance of +4.1%. Since the quarter end (March 31, 2026), HBNC has gained +16.7% vs +9.5% for XLF. 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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