Legence Corp (LGN): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

Q: Is it too late to buy Legence Corp (LGN) following the 2026 Q1 hedge fund 13F filings?

As of today, LGN has moved +2.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.2% for the XLI sector ETF — an outperformance of -1.9%. Since the quarter end (March 31, 2026), LGN gained +52.7% vs +10.5% for XLI. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Legence Corp (LGN)

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

Smart Money Signals — LGN

Based on 195 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q

For 3 consecutive quarters, more hedge funds added LGN 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

195 hedge funds hold LGN 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 — +19400% more funds vs a year ago

fund count last 6Q

+194 new funds entered over the past year (+19400% 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.

🟢

More buyers than sellers — 64% buying

138 buying77 selling

Last quarter: 138 funds were net buyers (60 opened a brand new position + 78 added to an existing one). Only 77 were sellers (45 trimmed + 32 sold completely). A clear majority buying is a strong confirmation signal.

⚠️

Fewer new buyers each quarter (-37 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 1 → 94 → 97 → 60. 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.

🔄

Mostly new holders — 84% entered in last year

■ 11% conviction (2yr+) ■ 6% medium ■ 84% new

Only 21 funds (11%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

💰

Value +29% but shares only +1% — price-driven

Value

+29%

+0%

Last quarter: the total dollar value of institutional holdings rose +29%, but actual share count only changed +1%. 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

0 → 1 → 94 → 97 → 60 new funds/Q

New funds entering each quarter: 1 → 94 → 97 → 60. 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.

🌱

Early stage — 82% of holders entered in last year

■ 18% veterans ■ 0% 1-2yr ■ 82% new

Of 197 current holders: 162 (82%) entered in the past year, only 35 (18%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.

✅

Strong quality — 25% AUM from major funds

25% from top-100 AUM funds

42 of 193 holders rank in the top 100 by AUM, accounting for 25% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

7.1

out of 10

High Exit Risk

Exit risk score 7.1/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.

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 Q1)	Prior (2025 Q4)	Change
Funds Holding	195	167	16.77%
13F Shares	72M	72M	0.87%
Total Value	$4.00B	$3.09B	29.45%
New Positions	60	97	-37
Increased Positions	78	37	+41
Closed Positions	32	24	+8
Reduced Positions	45	29	+16
Total Calls	4	0	100%
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

195

167

16.77%

13F Shares

72M

0.87%

Total Value

$4.00B

$3.09B

29.45%

New Positions

-37

Increased Positions

+41

Closed Positions

Reduced Positions

+16

Total Calls

100%

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q1)

195 + investors

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

QUARTER:

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

Top 25 LGN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Engle Capital Management, L.P.	9.82%	510,700	$28.8M
2	Goodlander Investment Management, LLC	8.40%	430,000	$24.3M
3	Scalar Gauge Management, LLC	8.17%	150,000	$8.5M
4	Capelight Capital Asset Management LP	6.53%	155,000	$8.8M
5	Blackstone Inc.	5.59%	25,341,365	$1.43B
6	Shannon River Fund Management LLC	3.64%	337,638	$19.1M
7	Hiddenite Capital Partners LP	3.63%	245,000	$13.8M
8	Kerrisdale Advisers, LLC	2.28%	105,920	$6.0M
9	Seven Grand Managers, LLC	2.26%	600,000	$33.9M
10	Summit Creek Advisors LLC	2.24%	192,967	$10.9M
11	Penn Capital Management Company, LLC	1.56%	356,315	$20.2M
12	Renaissance Capital LLC	1.52%	24,154	$2.1M
13	Munro Partners	1.43%	747,832	$42.2M
14	Burkehill Global Management, LP	1.19%	425,000	$24.0M
15	Next Century Growth Investors LLC	0.97%	238,114	$13.4M
16	Potrero Capital Research LLC	0.87%	25,059	$1.4M
17	Merewether Investment Management, LP	0.79%	726,336	$41.0M
18	Ghisallo Capital Management LLC	0.78%	500,000	$28.2M
19	G2 Investment Partners Management LLC	0.76%	54,866	$3.1M
20	ArrowMark Colorado Holdings LLC	0.69%	461,480	$26.1M
21	Alpha Financial Partners LLC	0.60%	17,866	$1.0M
22	Conestoga Capital Advisors, LLC	0.47%	415,860	$23.5M
23	Peregrine Capital Management LLC	0.46%	219,282	$12.4M
24	Westfield Capital Management Co LP	0.44%	1,861,653	$105.1M
25	Driehaus Capital Management LLC	0.38%	914,566	$51.6M

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 — Legence Corp (LGN)

What does the Smart Money Trend signal show for LGN?

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

More buyers than sellers — 64% buying: Last quarter: 138 funds were net buyers (60 opened a brand new position + 78 added to an existing one). Only 77 were sellers (45 trimmed + 32 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for LGN holders?

Strong quality — 25% AUM from major funds: 42 of 193 holders rank in the top 100 by AUM, accounting for 25% 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 LGN?

Mostly new holders — 84% entered in last year: Only 21 funds (11%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Is it too late to buy Legence Corp (LGN) following the 2026 Q1 hedge fund 13F filings?

As of today, LGN has moved +2.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.2% for the XLI sector ETF — an outperformance of -1.9%. Since the quarter end (March 31, 2026), LGN has gained +52.7% vs +10.5% for XLI. 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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Legence Corp (LGN)

Smart Money Signals — LGN

Buying streak — 3 quarters in a row

At the ownership peak (100% of max)

Fast accumulation — +19400% more funds vs a year ago

More buyers than sellers — 64% buying

Fewer new buyers each quarter (-37 vs last Q)

Mostly new holders — 84% entered in last year

Value +29% but shares only +1% — price-driven

Acceleration phase — new buyers rushing in

Early stage — 82% of holders entered in last year

Strong quality — 25% AUM from major funds

Institutional Sentiment Summary — LGN

Hedge Fund Ownership: LGN

Market Analysis: LGN

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: LGN

Is It Too Late to Buy Legence Corp (LGN) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: LGN

Statistics: LGN

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Legence Corp (LGN)

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