Hallador Energy Company (HNRG) Hedge Fund Ownership (Q2 2026)

Q: Is it too late to buy Hallador Energy Company (HNRG) following the 2026 Q2 hedge fund 13F filings?

As of today, HNRG has moved -9.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +4.2% for the XLE sector ETF — an outperformance of -13.2%. Since the quarter end (June 30, 2026), HNRG gained -15.4% vs +21.4% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Hallador Energy Company (HNRG)

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

Smart Money Signals — HNRG

Based on 172 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 HNRG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

📊

High ownership — 92% of 3.0Y peak

92% of all-time peak

172 funds currently hold this stock — 92% of the 3.0-year high of 186 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.

📶

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

fund count last 6Q

+23 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.

🟠

More sellers than buyers — 48% buying

90 buying98 selling

Last quarter: 98 funds reduced or exited vs 90 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

⚠️

Fewer new buyers each quarter (-23 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 26 → 47 → 51 → 28. 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.

🔒

45% of holders stayed for 2+ years

■ 45% conviction (2yr+) ■ 30% medium ■ 26% new

77 out of 172 hedge funds have held HNRG 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.

➡️

Steady discovery — ~28 new funds/quarter

38 → 26 → 47 → 51 → 28 new funds/Q

New funds entering each quarter: 26 → 47 → 51 → 28. Consistent flow of new institutional buyers without clear acceleration or slowdown.

🏛️

Veteran-anchored — 51% veterans vs 30% newcomers

■ 51% veterans ■ 18% 1-2yr ■ 30% new

Entry-cohort mix of 184 holders: 94 (51%) are 2+ year veterans, 34 entered 1–2 years ago, and 56 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

✅

Strong quality — 36% AUM from major funds

36% from top-100 AUM funds

42 of 170 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

3.6

out of 10

Low Exit Risk

Exit risk score 3.6/10 — 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.

Metric	All 13F Filers (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	169	186	-9.14%
13F Shares	39M	36M	7.51%
Total Value	$676M	$590M	14.73%
New Positions	28	51	-23
Increased Positions	59	58	+1
Closed Positions	43	38	+5
Reduced Positions	53	46	+7
Total Calls	7	8	-12.5%
Total Puts	7	6	16.67%
PUT/CALL Ratio	1.0	0.75	Neutral

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

169

186

-9.14%

13F Shares

39M

36M

7.51%

Total Value

$676M

$590M

14.73%

New Positions

-23

Increased Positions

Closed Positions

Reduced Positions

Total Calls

-12.5%

Total Puts

16.67%

PUT/CALL Ratio

1.0

0.75

Neutral

Institutional Holders (2026 Q2)

169 + investors

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

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 HNRG holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Lubar & Co., Inc	74.99%	5,452,019	$94.8M
2	Dayah Capital LLC	5.20%	887,236	$15.4M
3	Aegis Financial Corp	4.98%	1,812,026	$31.5M
4	Highland Peak Capital, LLC	4.79%	947,219	$16.5M
5	Tyro Capital Management LLC	2.87%	735,471	$12.8M
6	Dayah Capital LLC	2.78%	475,000	$8.3M
7	Garnet Equity Capital Holdings, INC.	2.08%	633,895	$11.0M
8	Beartown Capital Management, LLC	1.53%	200,000	$3.5M
9	GeoSphere Capital Management, LLC	0.85%	150,000	$2.6M
10	Nokomis Capital, L.L.C.	0.79%	135,000	$2.3M
11	VARCOV Co.	0.47%	70,760	$1.2M
12	Jb Capital Partners LP	0.43%	160,000	$2.8M
13	Apis Capital Advisors, LLC	0.34%	200,000	$3.5M
14	CenterBook Partners LP	0.29%	340,622	$5.9M
15	Wexford Capital LP	0.21%	94,568	$1.6M
16	Uniplan Investment Counsel, Inc.	0.20%	120,869	$2.1M
17	Sourcerock Group LLC	0.17%	183,394	$3.2M
18	Peloton Wealth Strategists	0.16%	25,000	$435K
19	Diametric Capital, LP	0.13%	71,573	$1.2M
20	Pekin Hardy Strauss, Inc.	0.12%	80,500	$1.4M
21	Orbis Allan Gray Ltd	0.10%	1,695,845	$29.5M
22	Byrne Asset Management LLC	0.07%	7,790	$135K
23	Acorn Creek Capital LLC	0.06%	10,000	$174K
24	Boothbay Fund Management, LLC	0.06%	244,220	$4.2M
25	Corsair Capital Management, L.P.	0.05%	22,509	$391K

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 — Hallador Energy Company (HNRG)

What does the Smart Money Trend signal show for HNRG?

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

More sellers than buyers — 48% buying: Last quarter: 98 funds reduced or exited vs 90 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for HNRG holders?

Strong quality — 36% AUM from major funds: 42 of 170 holders rank in the top 100 by AUM, accounting for 36% 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 HNRG?

45% of holders stayed for 2+ years: 77 out of 172 hedge funds have held HNRG 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 Hallador Energy Company (HNRG) following the 2026 Q2 hedge fund 13F filings?

As of today, HNRG has moved -9.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +4.2% for the XLE sector ETF — an outperformance of -13.2%. Since the quarter end (June 30, 2026), HNRG has gained -15.4% vs +21.4% for XLE. 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.

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Hallador Energy Company (HNRG)

Smart Money Signals — HNRG

Selling streak — 1 quarter in a row

High ownership — 92% of 3.0Y peak

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

More sellers than buyers — 48% buying

Fewer new buyers each quarter (-23 vs last Q)

45% of holders stayed for 2+ years

Steady discovery — ~28 new funds/quarter

Veteran-anchored — 51% veterans vs 30% newcomers

Strong quality — 36% AUM from major funds

Institutional Sentiment Summary — HNRG

Hedge Fund Ownership: HNRG

Market Analysis: HNRG

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: HNRG

Is It Too Late to Buy Hallador Energy Company (HNRG) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: HNRG

Statistics: HNRG

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Hallador Energy Company (HNRG)

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