Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Sleep Number Corp (SNBR)

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

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -5
Streak
2Q ▼
Buyers last Q
53%

Smart Money Signals — SNBR

Based on 120 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 SNBR 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 — 75% of 3.0Y peak

75% of all-time peak
120 funds currently hold this stock — 75% of the 3.0-year high of 159 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding SNBR is almost the same as a year ago (+1 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 53% buying

72 buying64 selling
Last quarter: 72 funds bought or added vs 64 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 — ~26 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 24 → 33 → 22 → 26. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

63% of holders stayed for 2+ years

63% conviction (2yr+) 20% medium 17% new
76 out of 120 hedge funds have held SNBR 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 +5%, value -76%

Value
-76%
Shares
+5%
Last quarter: funds added +5% more shares while total portfolio value only changed -76%. 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

26 → 24 → 33 → 22 → 26 new funds/Q
New funds entering each quarter: 24 → 33 → 22 → 26. SNBR is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Deep conviction — 74% of holders stayed 2+ years

74% veterans 8% 1-2yr 18% new
Of 127 current holders: 94 (74%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.

Strong quality — 28% AUM from major funds

28% from top-100 AUM funds
32 of 120 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.2
out of 10
Low Exit Risk
Exit risk score 2.2/10 — 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 — SNBR

In 2026 Q1, 72 hedge funds were net buyers of SNBR (26 opened a new position, 46 added to an existing one), while 64 reduced or exited (33 trimmed, 31 sold completely) — a 53% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. 28% of total institutional value in SNBR is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -5 funds (more exits than new entries). Total institutional holders: 120.

Hedge Fund Ownership: SNBR

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

Market Analysis: SNBR

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SNBR

-- --

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

Is It Too Late to Buy Sleep Number Corp (SNBR) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SNBR 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
SNBR
-78.3%
XLY
+7.0%

SNBR outperformed XLY by -85.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
SNBR
-84.7%
XLY
+0.1%

Since the filing became public, SNBR outperformed XLY by -84.8% .

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.

14 top-rated funds 0 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
0.5
/ 10
conviction
Hedge Fund Positioning: SNBR
119 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 119 125 -4.8%
13F Shares 19M 18M 4.94%
Total Value $36M $153M -76.3%
New Positions 25 22 +3
Increased Positions 43 25 +18
Closed Positions 31 29 +2
Reduced Positions 32 55 -23
Total Calls 5 5 -
Total Puts 3 5 -40.0%
PUT/CALL Ratio 0.6 1.0 Bullish

Statistics: SNBR

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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

119 + investors

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

QUARTER:
Top 25 SNBR holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Stadium Capital Management LLC 11.57% 2,616,459 $4.7M
2 Pacific Ridge Capital Partners, LLC 0.69% 1,767,445 $3.2M
3 Brightlight Capital Management LP 0.32% 179,400 $322K
4 Archon Capital Management LLC 0.23% 225,600 $405K
5 SummerHaven Investment Management, LLC 0.08% 70,211 $126K
6 Disciplined Investors, L.L.C. 0.07% 70,024 $126K
7 Schwarz Dygos Wheeler Investment Advisors LLC 0.06% 163,141 $293K
8 Invenomic Capital Management LP 0.04% 449,934 $808K
9 IPG Investment Advisors LLC 0.03% 83,056 $149K
10 Caitong International Asset Management Co., Ltd 0.01% 44,638 $80K
11 Divisadero Street Capital Management, LP 0.01% 190,473 $342K
12 Jump Financial, LLC 0.01% 441,100 $792K
13 DDFG, Inc 0.00% 12,688 $23K
14 Jacobs Levy Equity Management, Inc 0.00% 624,287 $1.1M
15 Two Sigma Securities, LLC 0.00% 22,432 $40K
16 CastleKnight Management LP 0.00% 139,222 $250K
17 NINE MASTS CAPITAL Ltd 0.00% 15,135 $27K
18 HighMark Wealth Management LLC 0.00% 5,331 $10K
19 Engineers Gate Manager LP 0.00% 161,571 $290K
20 Axq Capital, LP 0.00% 14,465 $26K
21 Marks Group Wealth Management, Inc 0.00% 15,000 $27K
22 Graham Capital Management, L.P. 0.00% 57,770 $104K
23 Essential Partners LLC 0.00% 3,372 $6K
24 Marshall Wace, LLP 0.00% 806,416 $1.4M
25 Focus Financial Network, Inc. 0.00% 20,633 $37K
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 — Sleep Number Corp (SNBR)

What does the Smart Money Trend signal show for SNBR?

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

Slight buying edge — 53% buying: Last quarter: 72 funds bought or added vs 64 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 SNBR holders?

Strong quality — 28% AUM from major funds: 32 of 120 holders rank in the top 100 by AUM, accounting for 28% 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 SNBR?

63% of holders stayed for 2+ years: 76 out of 120 hedge funds have held SNBR 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 Sleep Number Corp (SNBR) following the 2026 Q1 hedge fund 13F filings?

As of today, SNBR has moved -84.7% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.1% for the XLY sector ETF — an outperformance of -84.8%. Since the quarter end (March 31, 2026), SNBR has gained -78.3% 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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