Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Txnm Energy Inc (TXNM)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
8Q ▲
Buyers last Q
54%

Smart Money Signals — TXNM

Based on 376 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 8 quarters in a row

last 6Q
For 8 consecutive quarters, more hedge funds added TXNM 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
376 hedge funds hold TXNM 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.
📶

Steady growth — +16% more funds vs a year ago

fund count last 6Q
+51 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 54% buying

194 buying164 selling
Last quarter: 194 funds bought or added vs 164 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.
⚠️

Fewer new buyers each quarter (-12 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 86 → 49 → 59 → 47. 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.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 23% medium ■ 17% new
224 out of 376 hedge funds have held TXNM 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

58 → 86 → 49 → 59 → 47 new funds/Q
New funds entering each quarter: 86 → 49 → 59 → 47. TXNM 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 — 65% veterans vs 26% newcomers

■ 65% veterans ■ 9% 1-2yr ■ 26% new
Entry-cohort mix of 378 holders: 245 (65%) are 2+ year veterans, 35 entered 1–2 years ago, and 98 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 27% AUM from major funds

27% from top-100 AUM funds
53 of 375 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — 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 — TXNM

In 2026 Q1, 194 hedge funds were net buyers of TXNM (47 opened a new position, 147 added to an existing one), while 164 reduced or exited (118 trimmed, 46 sold completely) — a 54% buyer ratio, indicating a slight buying edge. This marks 8 consecutive quarters of net institutional buying — a persistent conviction signal. 27% of total institutional value in TXNM is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 376.

Hedge Fund Ownership: TXNM

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

Market Analysis: TXNM

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: TXNM

-- --

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

Is It Too Late to Buy Txnm Energy Inc (TXNM) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much TXNM has moved relative to its sector benchmark (XLU) 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 · 78d ago
TXNM
-2.9%
XLU
-2.5%

TXNM outperformed XLU by -0.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
TXNM
-4.2%
XLU
+90.9%

Since the filing became public, TXNM outperformed XLU by -95.1% .

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.

27 top-rated funds 2 high-conviction
Consensus
6.3
/ 10
breadth
×
Elite
2.7
/ 10
conviction
Hedge Fund Positioning: TXNM
374 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 374 375 -0.27%
13F Shares 108M 109M -0.7%
Total Value $6.26B $6.39B -2.03%
New Positions 46 59 -13
Increased Positions 145 138 +7
Closed Positions 47 42 +5
Reduced Positions 117 116 +1
Total Calls 1 1 -
Total Puts 2 1 100.0%
PUT/CALL Ratio 2.0 1.0 Bearish

Statistics: TXNM

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Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

374 + investors

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

QUARTER:
Top 25 TXNM holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Sand Grove Capital Management LLP 8.71% 662,081 $38.7M
2 CIBRA Capital Ltd 8.00% 283,458 $16.6M
3 Melqart Asset Management (UK) Ltd 6.06% 1,050,947 $61.4M
4 Water Island Capital LLC 4.40% 674,867 $39.5M
5 Olympiad Research LP 3.15% 17,693 $1.0M
6 GABELLI & Co INVESTMENT ADVISERS, INC. 3.00% 346,186 $20.2M
7 Empyrean Capital Partners, LP 2.75% 1,442,554 $84.3M
8 R Squared Ltd 2.44% 76,056 $4.4M
9 Zimmer Partners, LP 2.16% 1,532,247 $89.6M
10 Nexpoint Asset Management, L.P. 2.12% 540,239 $31.6M
11 Kintayl Capital LP 2.09% 68,602 $4.0M
12 Birnam Oak Advisors, LP 1.95% 146,650 $8.6M
13 Blackstone Inc. 1.83% 8,000,000 $467.7M
14 Hbk Investments L P 1.80% 3,040,938 $177.8M
15 Alpine Associates Management INC. 1.76% 512,106 $29.9M
16 AQR Arbitrage LLC 1.70% 1,765,847 $103.2M
17 Governors Lane LP 1.66% 444,414 $26.0M
18 Capricorn Fund Managers Ltd 1.38% 151,009 $8.8M
19 Readystate Asset Management LP 1.20% 456,446 $26.7M
20 One68 Global Capital, LLC 1.13% 6,000 $348K
21 Phocas Financial Corp. 0.95% 103,269 $6.0M
22 Caxton Associates LLP 0.92% 695,635 $40.7M
23 Prelude Capital Management, LLC 0.90% 200,990 $11.7M
24 Magnetar Financial LLC 0.88% 1,475,138 $86.2M
25 Pentwater Capital Management LP 0.85% 2,800,000 $163.7M
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 — Txnm Energy Inc (TXNM)

What does the Smart Money Trend signal show for TXNM?

Buying streak — 8 quarters in a row: For 8 consecutive quarters, more hedge funds added TXNM 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 TXNM?

Slight buying edge — 54% buying: Last quarter: 194 funds bought or added vs 164 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 TXNM holders?

Strong quality — 27% AUM from major funds: 53 of 375 holders rank in the top 100 by AUM, accounting for 27% 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 TXNM?

60% of holders stayed for 2+ years: 224 out of 376 hedge funds have held TXNM 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 Txnm Energy Inc (TXNM) following the 2026 Q1 hedge fund 13F filings?

As of today, TXNM has moved -4.2% since the 2026 Q1 13F filing date (May 15, 2026), compared to +90.9% for the XLU sector ETF — an outperformance of -95.1%. Since the quarter end (March 31, 2026), TXNM has gained -2.9% vs -2.5% for XLU. 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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