Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Exagen Inc (XGN)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -5
Streak
2Q ▼
Buyers last Q
37%

Smart Money Signals — XGN

Based on 55 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their XGN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻

Below peak — only 69% of 3.0Y high

69% of all-time peak
Only 55 funds hold XGN today versus a peak of 80 funds at 2025 Q4 — just 69% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📶

Steady growth — +6% more funds vs a year ago

fund count last 6Q
+3 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴

Heavy selling pressure — only 37% buying

22 buying37 selling
Last quarter: 37 funds sold vs only 22 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️

Steady new buyers — ~8 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 19 → 26 → 7 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 38% long-term, 31% new

■ 38% conviction (2yr+) ■ 31% medium ■ 31% new
Of the 55 current holders: 21 (38%) held >2 years, 17 held 1–2 years, and 17 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰

Price up while funds trimmed (+27% value, -19% shares)

Value
+26%
Shares
-19%
Last quarter: total value of institutional XGN holdings rose +27% even though funds reduced share count by 19%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
⚠️

Saturation — most institutions already know this story

22 → 19 → 26 → 7 → 8 new funds/Q
New funds entering each quarter: 19 → 26 → 7 → 8. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️

Veteran-anchored — 44% veterans vs 45% newcomers

■ 44% veterans ■ 11% 1-2yr ■ 45% new
Entry-cohort mix of 55 holders: 24 (44%) are 2+ year veterans, 6 entered 1–2 years ago, and 25 (45%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 10% AUM from top-100

10% from top-100 AUM funds
19 of 55 holders rank in the top 100 by AUM, but together hold only 10% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
2.9
out of 10
Low Exit Risk
Exit risk score 2.9/10 — 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 — XGN

In 2026 Q2, 22 hedge funds were net buyers of XGN (8 opened a new position, 14 added to an existing one), while 37 reduced or exited (24 trimmed, 13 sold completely) — a 37% buyer ratio, indicating net institutional distribution. Net selling has persisted for two consecutive quarters. Net fund flow last quarter: -5 funds (more exits than new entries). Total institutional holders: 55.

Hedge Fund Ownership: XGN

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

Market Analysis: XGN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: XGN

-- --

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

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

3 top-rated funds 1 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
1.1
/ 10
conviction
Hedge Fund Positioning: XGN
55 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 55 60 -8.33%
13F Shares 8M 10M -19.3%
Total Value $34M $27M 26.84%
New Positions 8 7 +1
Increased Positions 14 25 -11
Closed Positions 13 27 -14
Reduced Positions 24 21 +3
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: XGN

View More

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 Q2)

55 + investors

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

QUARTER:
Top 25 XGN holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 FourWorld Capital Management LLC 2.52% 596,528 $2.8M
2 Nano Cap New Millennium Growth Fund L P 2.41% 675,000 $3.1M
3 Mink Brook Asset Management LLC 0.98% 475,944 $2.2M
4 Wexford Capital LP 0.47% 792,855 $3.7M
5 Perkins Capital Management Inc 0.20% 56,796 $264K
6 R Squared Ltd 0.06% 26,073 $121K
7 Gwn Securities INC. 0.06% 78,034 $363K
8 Kennedy Capital Management LLC 0.04% 485,048 $2.3M
9 Flputnam Investment Management Co 0.02% 288,810 $1.3M
10 Silvercrest Asset Management Group LLC 0.02% 514,761 $2.4M
11 Axq Capital, LP 0.01% 27,948 $130K
12 Perceptive Advisors LLC 0.01% 114,893 $534K
13 Rtw Investments, LP 0.01% 195,000 $907K
14 XTX Topco Ltd 0.01% 111,948 $521K
15 Occudo Quantitative Strategies LP 0.01% 20,632 $96K
16 Truvestments Capital LLC 0.00% 5,659 $26K
17 Bridgeway Capital Management, LLC 0.00% 30,002 $140K
18 First Eagle Investment Management, LLC 0.00% 306,965 $1.4M
19 Engineers Gate Manager LP 0.00% 37,000 $172K
20 Man Group plc 0.00% 167,292 $778K
21 Marshall Wace, LLP 0.00% 306,703 $1.4M
22 Arax Advisory Partners 0.00% 20,918 $97K
23 Squarepoint Ops LLC 0.00% 108,993 $507K
24 Sei Investments Co 0.00% 109,005 $507K
25 Tower Research Capital LLC (TRC) 0.00% 2,968 $14K
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 — Exagen Inc (XGN)

What does the Smart Money Trend signal show for XGN?

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

Heavy selling pressure — only 37% buying: Last quarter: 37 funds sold vs only 22 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.

What is the fund quality score for XGN holders?

Smaller funds dominant — 10% AUM from top-100: 19 of 55 holders rank in the top 100 by AUM, but together hold only 10% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held XGN?

Mixed — 38% long-term, 31% new: Of the 55 current holders: 21 (38%) held >2 years, 17 held 1–2 years, and 17 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

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.

Full history →