Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Sangoma Technologies Corp (SANG)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
2Q ▲
Buyers last Q
50%

Smart Money Signals — SANG

Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added SANG 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.
📊

High ownership — 84% of 3.0Y peak

84% of all-time peak
21 funds currently hold this stock — 84% of the 3.0-year high of 25 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 5% fewer funds vs a year ago

fund count last 6Q
1 fewer hedge funds hold SANG compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 50% buying

10 buying10 selling
Last quarter: 10 funds bought or added vs 10 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 — ~2 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 3 → 2 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

62% of holders stayed for 2+ years

■ 62% conviction (2yr+) ■ 33% medium ■ 5% new
13 out of 21 hedge funds have held SANG 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 +15%, value -14%

Value
-14%
Shares
+15%
Last quarter: funds added +15% more shares while total portfolio value only changed -14%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊

Peak discovery — momentum slowing

2 → 3 → 2 → 2 → 2 new funds/Q
New funds entering each quarter: 3 → 2 → 2 → 2. SANG 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 — 62% veterans vs 10% newcomers

■ 62% veterans ■ 29% 1-2yr ■ 10% new
Entry-cohort mix of 21 holders: 13 (62%) are 2+ year veterans, 6 entered 1–2 years ago, and 2 (10%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 5% AUM from top-100

5% from top-100 AUM funds
7 of 21 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
2.3
out of 10
Low Exit Risk
Exit risk score 2.3/10 — 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 — SANG

In 2026 Q1, 10 hedge funds were net buyers of SANG (2 opened a new position, 8 added to an existing one), while 10 reduced or exited (9 trimmed, 1 sold completely) — a 50% buyer ratio, indicating a slight buying edge. Net buying has persisted for two consecutive quarters, a positive momentum signal. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 21.

Hedge Fund Ownership: SANG

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

Market Analysis: SANG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SANG

-- --

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

Is It Too Late to Buy Sangoma Technologies Corp (SANG) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SANG has moved relative to its sector benchmark (XLK) 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 · 79d ago
SANG
-6.7%
XLK
+44.0%

SANG outperformed XLK by -50.7% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
SANG
-0.5%
XLK
+8.6%

Since the filing became public, SANG outperformed XLK by -9.1% .

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.

0 top-rated funds 0 high-conviction
Consensus
0.0
/ 10
breadth
×
Elite
0.4
/ 10
conviction
Hedge Fund Positioning: SANG
21 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 21 20 5.0%
13F Shares 7M 6M 15.26%
Total Value $27M $31M -14.49%
New Positions 2 2 -
Increased Positions 8 9 -1
Closed Positions 1 1 -
Reduced Positions 9 4 +5
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: SANG

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
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
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

21 + investors

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

QUARTER:
Top 19 SANG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Ppm America Inc/Il 15.72% 688,523 $2.6M
2 PenderFund Capital Management Ltd. 1.74% 2,820,933 $11.1M
3 Ewing Morris & Co. Investment Partners Ltd. 1.18% 668,254 $2.6M
4 Intact Investment Management INC. 0.08% 717,425 $2.8M
5 Bard Associates Inc 0.06% 59,688 $232K
6 Alberta Investment Management Corp 0.02% 766,418 $3.0M
7 TD Waterhouse Canada Inc. 0.01% 457,133 $1.7M
8 Legacy Advisors, LLC 0.00% 10,000 $39K
9 Connor, Clark & Lunn Investment Management Ltd. 0.00% 234,833 $925K
10 Arrowstreet Capital, Limited Partnership 0.00% 171,708 $677K
11 National Bank of Canada /Fi/ 0.00% 97,263 $379K
12 Tower Research Capital LLC (TRC) 0.00% 3,236 $13K
13 Royal Bank of Canada 0.00% 60,320 $234K
14 Federation des caisses Desjardins du Quebec 0.00% 1,810 $7K
15 Goldman Sachs Group Inc 0.00% 34,761 $135K
16 Susquehanna International Group, LLP 0.00% 23,963 $91K
17 Citadel Advisors LLC 0.00% 12,559 $48K
18 Morgan Stanley 0.00% 19,800 $77K
19 UBS Group AG 0.00% 212 —
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 — Sangoma Technologies Corp (SANG)

What does the Smart Money Trend signal show for SANG?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added SANG 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 SANG?

Slight buying edge — 50% buying: Last quarter: 10 funds bought or added vs 10 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 SANG holders?

Smaller funds dominant — 5% AUM from top-100: 7 of 21 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held SANG?

62% of holders stayed for 2+ years: 13 out of 21 hedge funds have held SANG 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 Sangoma Technologies Corp (SANG) following the 2026 Q1 hedge fund 13F filings?

As of today, SANG has moved -0.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +8.6% for the XLK sector ETF — an outperformance of -9.1%. Since the quarter end (March 31, 2026), SANG has gained -6.7% vs +44.0% 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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