Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

On Hldg AG (ONON)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -31
Streak
1Q ▼
Buyers last Q
45%

Smart Money Signals — ONON

Based on 498 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their ONON 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 — 94% of 3.0Y peak

94% of all-time peak
498 funds currently hold this stock — 94% of the 3.0-year high of 529 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶

Steady growth — +5% more funds vs a year ago

fund count last 6Q
+22 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 45% buying

254 buying314 selling
Last quarter: 314 funds reduced or exited vs 254 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 (-37 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 100 → 92 → 123 → 86. 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.
🔒

41% of holders stayed for 2+ years

■ 41% conviction (2yr+) ■ 28% medium ■ 31% new
203 out of 498 hedge funds have held ONON 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 -6%, value -31%

Value
-30%
Shares
-5%
Last quarter: funds added -6% more shares while total portfolio value only changed -31%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~86 new funds/quarter

84 → 100 → 92 → 123 → 86 new funds/Q
New funds entering each quarter: 100 → 92 → 123 → 86. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 47% veterans vs 37% newcomers

■ 47% veterans ■ 16% 1-2yr ■ 37% new
Entry-cohort mix of 545 holders: 255 (47%) are 2+ year veterans, 86 entered 1–2 years ago, and 204 (37%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 51% AUM from top-100 funds

51% from top-100 AUM funds
51 of 494 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in ONON. 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 — ONON

In 2026 Q1, 254 hedge funds were net buyers of ONON (86 opened a new position, 168 added to an existing one), while 314 reduced or exited (197 trimmed, 117 sold completely) — a 45% buyer ratio, indicating roughly balanced activity. 51% of total institutional value in ONON is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -31 funds (more exits than new entries). Total institutional holders: 498.

Hedge Fund Ownership: ONON

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

Market Analysis: ONON

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: ONON

-- --

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

Is It Too Late to Buy On Hldg AG (ONON) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much ONON has moved relative to its sector benchmark (XLY) 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 · 75d ago
ONON
+13.4%
XLY
+7.0%

ONON outperformed XLY by +6.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
ONON
+3.5%
XLY
+0.1%

Since the filing became public, ONON outperformed XLY by +3.4% .

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.

33 top-rated funds 9 high-conviction
Consensus
6.6
/ 10
breadth
×
Elite
4.2
/ 10
conviction
Hedge Fund Positioning: ONON
495 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 495 529 -6.43%
13F Shares 223M 236M -5.68%
Total Value $7.51B $10.85B -30.79%
New Positions 85 123 -38
Increased Positions 151 193 -42
Closed Positions 119 88 +31
Reduced Positions 190 142 +48
Total Calls 28 31 -9.68%
Total Puts 23 25 -8.0%
PUT/CALL Ratio 0.82 0.81 Neutral

Statistics: ONON

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Price/Book (mrq) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Total Cash (mrq) --
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Institutional Holders (2026 Q1)

495 + investors

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

QUARTER:
Top 25 ONON holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Sinvest Investments II Ltd. 100.00% 8,400,000 $285.8M
2 Platinum Paramount Investment LTD. 55.84% 11,312,048 $384.8M
3 APEIRON CAPITAL Ltd 31.69% 996,052 $33.9M
4 Ogborne Capital Management, LLC 16.45% 951,175 $32.4M
5 FengHe Fund Management Pte. Ltd. 7.99% 1,699,520 $57.8M
6 Grand Alliance Asset Management Ltd 7.31% 355,000 $12.1M
7 ThornTree Capital Partners LP 7.23% 1,197,338 $40.7M
8 Ilex Capital Partners (UK) LLP 5.52% 6,586,000 $224.1M
9 Darwins River Capital, LP 4.47% 245,549 $8.4M
10 Bwcp, LP 3.53% 680,733 $23.2M
11 Towarzystwo Funduszy Inwestycyjnych Pzu SA 3.20% 280,142 $9.5M
12 Riposte Capital LLC 2.82% 325,000 $11.1M
13 Manchester Global Management (UK) Ltd 2.37% 522,239 $17.8M
14 Villere St Denis J & Co LLC 2.31% 615,787 $20.9M
15 Caden Capital Partners, LP 2.31% 5,505 $187K
16 FirstWave Capital Management LLC 2.12% 58,726 $2.0M
17 Rivermont Capital Management LP 1.84% 256,950 $8.7M
18 Unison Asset Management LLC 1.80% 115,689 $3.9M
19 Mane Global Capital Management LP 1.77% 505,316 $17.2M
20 Norman Fields, Gottscho Capital Management, LLC 1.68% 149,472 $5.1M
21 Headwater Capital Co Ltd 1.64% 300,000 $10.2M
22 Bulltick Wealth Management, LLC 1.50% 200,041 $6.8M
23 Abu Dhabi Investment Council Co P.J.S.C 1.41% 403,352 $13.7M
24 Prentiss Smith & Co Inc 1.33% 67,150 $2.3M
25 JW Asset Management, LLC 1.16% 82,950 $2.8M
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 — On Hldg AG (ONON)

What does the Smart Money Trend signal show for ONON?

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

More sellers than buyers — 45% buying: Last quarter: 314 funds reduced or exited vs 254 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 ONON holders?

Elite ownership — 51% AUM from top-100 funds: 51 of 494 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in ONON. 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 ONON?

41% of holders stayed for 2+ years: 203 out of 498 hedge funds have held ONON 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 On Hldg AG (ONON) following the 2026 Q1 hedge fund 13F filings?

As of today, ONON has moved +3.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.1% for the XLY sector ETF — an outperformance of +3.4%. Since the quarter end (March 31, 2026), ONON has gained +13.4% vs +7.0% for XLY. 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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