Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Tennant Co (TNC)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -30
Streak
2Q ▼
Buyers last Q
45%

Smart Money Signals — TNC

Based on 216 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 TNC 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 — 84% of 3.0Y peak

84% of all-time peak
216 funds currently hold this stock — 84% of the 3.0-year high of 257 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 13% fewer funds vs a year ago

fund count last 6Q
31 fewer hedge funds hold TNC compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 45% buying

112 buying139 selling
Last quarter: 139 funds reduced or exited vs 112 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.
📈

More new buyers each quarter (+6 vs last Q)

new funds entering per quarter
Funds opening a new TNC position: 36 → 35 → 24 → 30. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

65% of holders stayed for 2+ years

■ 65% conviction (2yr+) ■ 19% medium ■ 16% new
141 out of 216 hedge funds have held TNC 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.
📊

Peak discovery — momentum slowing

26 → 36 → 35 → 24 → 30 new funds/Q
New funds entering each quarter: 36 → 35 → 24 → 30. TNC 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 — 70% veterans vs 18% newcomers

■ 70% veterans ■ 12% 1-2yr ■ 18% new
Entry-cohort mix of 221 holders: 154 (70%) are 2+ year veterans, 27 entered 1–2 years ago, and 40 (18%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 30% AUM from major funds

30% from top-100 AUM funds
41 of 216 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — 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 — TNC

In 2026 Q1, 112 hedge funds were net buyers of TNC (30 opened a new position, 82 added to an existing one), while 139 reduced or exited (79 trimmed, 60 sold completely) — a 45% buyer ratio, indicating roughly balanced activity. Net selling has persisted for two consecutive quarters. 30% of total institutional value in TNC is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -30 funds (more exits than new entries). Total institutional holders: 216.

Hedge Fund Ownership: TNC

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

Market Analysis: TNC

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: TNC

-- --

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

Is It Too Late to Buy Tennant Co (TNC) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much TNC has moved relative to its sector benchmark (XLI) 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 · 84d ago
TNC
+35.8%
XLI
+12.4%

TNC outperformed XLI by +23.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 39d ago
TNC
+12.1%
XLI
+6.1%

Since the filing became public, TNC outperformed XLI by +6.0% .

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.

22 top-rated funds 2 high-conviction
Consensus
5.9
/ 10
breadth
×
Elite
2.2
/ 10
conviction
Hedge Fund Positioning: TNC
215 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 215 246 -12.6%
13F Shares 18M 17M 2.41%
Total Value $1.15B $1.26B -8.56%
New Positions 29 24 +5
Increased Positions 82 73 +9
Closed Positions 60 34 +26
Reduced Positions 77 110 -33
Total Calls 3 0 100%
Total Puts 2 2 -
PUT/CALL Ratio 0.67 0.0 Bullish

Statistics: TNC

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

215 + investors

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

QUARTER:
Top 25 TNC holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Vision One Management Partners, LP 11.21% 391,593 $26.0M
2 P2 Capital Partners, LLC 9.62% 304,207 $20.2M
3 Kopion Asset Management, LLC 8.86% 171,553 $11.4M
4 Simcoe Capital Management, LLC 4.30% 372,950 $24.8M
5 Lightrock Netherlands B.V. 2.18% 153,770 $10.2M
6 Prentiss Smith & Co Inc 1.50% 38,961 $2.6M
7 Invenomic Capital Management LP 1.06% 349,392 $23.2M
8 CM Management, LLC 0.83% 15,000 $996K
9 Needham Investment Management LLC 0.78% 229,000 $15.2M
10 Mairs & Power Inc 0.55% 803,464 $53.4M
11 Gamco Investors, INC. Et Al 0.46% 706,400 $46.9M
12 Albert D Mason Inc 0.43% 9,918 $659K
13 Teton Advisors, LLC 0.40% 8,500 $564K
14 White Pine Capital LLC 0.32% 17,349 $1.2M
15 Sylvest Advisors, LLC 0.30% 8,594 $571K
16 Martin & Co Inc /Tn/ 0.30% 26,116 $1.7M
17 Deprince Race & Zollo Inc 0.23% 183,084 $12.2M
18 River Road Asset Management, LLC 0.20% 270,238 $17.9M
19 Peregrine Capital Management LLC 0.17% 69,065 $4.6M
20 Ironwood Investment Management LLC 0.17% 6,020 $400K
21 Advisory Research Inc 0.17% 20,410 $1.4M
22 Penn Capital Management Company, LLC 0.15% 29,732 $2.0M
23 Dorsey & Whitney Trust CO LLC 0.14% 39,567 $2.6M
24 SFE Investment Counsel 0.14% 13,170 $874K
25 Silvercrest Asset Management Group LLC 0.14% 284,059 $18.9M
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 — Tennant Co (TNC)

What does the Smart Money Trend signal show for TNC?

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

More sellers than buyers — 45% buying: Last quarter: 139 funds reduced or exited vs 112 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 TNC holders?

Strong quality — 30% AUM from major funds: 41 of 216 holders rank in the top 100 by AUM, accounting for 30% 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 TNC?

65% of holders stayed for 2+ years: 141 out of 216 hedge funds have held TNC 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 Tennant Co (TNC) following the 2026 Q1 hedge fund 13F filings?

As of today, TNC has moved +12.1% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.1% for the XLI sector ETF — an outperformance of +6.0%. Since the quarter end (March 31, 2026), TNC has gained +35.8% vs +12.4% 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.

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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