Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Exagen Inc (XGN)

60 + 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
↓ -20
Streak
1Q ▼
Buyers last Q
40%

Smart Money Signals — XGN

Based on 60 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, 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.
📊

High ownership — 75% of 3.0Y peak

75% of all-time peak
60 funds currently hold this stock — 75% of the 3.0-year high of 80 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀

Fast accumulation — +62% more funds vs a year ago

fund count last 6Q
+23 new funds entered over the past year (+62% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟠

More sellers than buyers — 40% buying

32 buying48 selling
Last quarter: 48 funds reduced or exited vs 32 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.
⚠️

Fewer new buyers each quarter (-19 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 22 → 19 → 26 → 7. 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.
📌

Mixed — 35% long-term, 35% new

■ 35% conviction (2yr+) ■ 30% medium ■ 35% new
Of the 60 current holders: 21 (35%) held >2 years, 18 held 1–2 years, and 21 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.
💎

Buying through price weakness — shares -9%, value -59%

Value
-58%
Shares
-9%
Last quarter: funds added -9% more shares while total portfolio value only changed -59%. 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

4 → 22 → 19 → 26 → 7 new funds/Q
New funds entering each quarter: 22 → 19 → 26 → 7. XGN 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 — 42% of holders stayed 2+ years

■ 42% veterans ■ 7% 1-2yr ■ 52% new
Of 60 current holders: 25 (42%) 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.
📋

Smaller funds dominant — 13% AUM from top-100

13% from top-100 AUM funds
18 of 60 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.9
out of 10
Low Exit Risk
Exit risk score 3.9/10 — 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 Q1, 32 hedge funds were net buyers of XGN (7 opened a new position, 25 added to an existing one), while 48 reduced or exited (21 trimmed, 27 sold completely) — a 40% buyer ratio, indicating roughly balanced activity. Net fund flow last quarter: -20 funds (more exits than new entries). Total institutional holders: 60.

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.

Is It Too Late to Buy Exagen Inc (XGN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much XGN has moved relative to its sector benchmark (XLV) 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
XGN
+51.7%
XLV
+4.3%

XGN outperformed XLV by +47.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
XGN
+25.0%
XLV
+5.4%

Since the filing became public, XGN outperformed XLV by +19.6% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

5 top-rated funds 0 high-conviction
Consensus
3.4
/ 10
breadth
×
Elite
0.7
/ 10
conviction
Hedge Fund Positioning: XGN
60 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 60 80 -25.0%
13F Shares 10M 11M -9.28%
Total Value $27M $66M -58.77%
New Positions 7 26 -19
Increased Positions 25 33 -8
Closed Positions 27 8 +19
Reduced Positions 21 16 +5
Total Calls 0 2 -100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: XGN

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Valuation Measures Data as of: --

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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
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Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

60 + 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 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Nano Cap New Millennium Growth Fund L P 1.64% 585,000 $1.8M
2 FourWorld Capital Management LLC 0.67% 439,950 $1.3M
3 Mink Brook Asset Management LLC 0.62% 369,027 $1.1M
4 Wexford Capital LP 0.34% 792,855 $2.4M
5 T3 Companies, LLC 0.28% 72,000 $216K
6 Perkins Capital Management Inc 0.20% 71,796 $215K
7 Massar Capital Management, LP 0.04% 140,000 $420K
8 R Squared Ltd 0.04% 27,107 $81K
9 Kennedy Capital Management LLC 0.03% 493,660 $1.5M
10 Penbrook Management LLC 0.03% 13,330 $40K
11 Dynamic Technology Lab Private Ltd 0.02% 45,960 $138K
12 Axq Capital, LP 0.01% 34,593 $104K
13 XTX Topco Ltd 0.01% 242,285 $727K
14 Rtw Investments, LP 0.01% 395,231 $1.2M
15 Silvercrest Asset Management Group LLC 0.01% 537,870 $1.6M
16 Perceptive Advisors LLC 0.01% 114,893 $345K
17 Bridgeway Capital Management, LLC 0.01% 87,402 $262K
18 Occudo Quantitative Strategies LP 0.00% 27,834 $81K
19 Truvestments Capital LLC 0.00% 6,169 $19K
20 Engineers Gate Manager LP 0.00% 86,231 $259K
21 Balyasny Asset Management L.P. 0.00% 796,632 $2.4M
22 Two Sigma Advisers, LP 0.00% 161,000 $979K
23 Arax Advisory Partners 0.00% 20,918 $63K
24 Squarepoint Ops LLC 0.00% 288,825 $866K
25 Renaissance Technologies LLC 0.00% 203,272 $610K
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 — 1 quarter in a row: For 1 consecutive quarter, 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?

More sellers than buyers — 40% buying: Last quarter: 48 funds reduced or exited vs 32 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 XGN holders?

Smaller funds dominant — 13% AUM from top-100: 18 of 60 holders rank in the top 100 by AUM, but together hold only 13% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held XGN?

Mixed — 35% long-term, 35% new: Of the 60 current holders: 21 (35%) held >2 years, 18 held 1–2 years, and 21 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.

Is it too late to buy Exagen Inc (XGN) following the 2026 Q1 hedge fund 13F filings?

As of today, XGN has moved +25.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.4% for the XLV sector ETF — an outperformance of +19.6%. Since the quarter end (March 31, 2026), XGN has gained +51.7% vs +4.3% for XLV. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to 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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