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FuelCell Energy
FCEL

135 hedge funds and large institutions have $156M invested in FuelCell Energy in 2025 Q4 according to their latest regulatory filings, with 40 funds opening new positions, 41 increasing their positions, 18 reducing their positions, and 22 closing their positions.

New
Increased
Maintained
Reduced
Closed

128% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 18

82% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 22

78% more capital invested

Capital invested by funds: $87.8M → $156M (+$68.1M)

62% more call options, than puts

Call options by funds: $26.2M | Put options by funds: $16.1M

15% more funds holding

Funds holding: 117 → 135 (+18)

9.81% more ownership

Funds ownership: 34.84% → 44.66% (+9.8%)

Holders
135
Holders Change
+18
Holders Change %
+15.38%
% of All Funds
1.64%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
40
Increased
41
Reduced
18
Closed
22
Calls
$26.2M
Puts
$16.1M
Net Calls
+$10M
Net Calls Change
+$3.15M

Top Buyers

1
Legal & General Group
Legal & General Group
United Kingdom
+$23.6M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$11.6M
3
CP
CenterBook Partners
Connecticut
+$10.5M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$5.38M
5
Invesco
Invesco
Georgia
+$5.29M

Top Sellers

1
Marshall Wace
Marshall Wace
United Kingdom
-$4.95M
2
UBS Group
UBS Group
Switzerland
-$2.36M
3
Walleye Capital
Walleye Capital
New York
-$2.35M
4
Bank of America
Bank of America
North Carolina
-$1.98M
5
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
-$1.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
KG
101
Kilter Group
New York
$1.46K +$817 +100 +100%
UB
102
UMB Bank
Missouri
$1.21K +$1.36K +166 New
FDCDDQ
103
Federation des caisses Desjardins du Quebec
Quebec, Canada
$1.12K +$270 +33 +28%
RBC
104
Roble Belko & Company
Pennsylvania
$1K – – –
VNA
105
Valley National Advisers
Pennsylvania
$1K – – –
Nisa Investment Advisors
106
Nisa Investment Advisors
Missouri
$804 – – –
FHA
107
Flagship Harbor Advisors
Massachusetts
$731 +$817 +100 New
SC
108
SouthState Corp
Florida
$570 – – –
MCM
109
MAI Capital Management
Ohio
$483 – – –
IAIM
110
International Assets Investment Management
Florida
$453 +$507 +62 New
WAS
111
Winch Advisory Services
Wisconsin
$451 – – –
Russell Investments Group
112
Russell Investments Group
United Kingdom
$417 – – –
PFBT
113
Parkside Financial Bank & Trust
Missouri
$388 – – –
NA
114
NewEdge Advisors
Louisiana
$366 – – –
TCOT
115
Trust Company of Toledo
Ohio
$336 – – –
ACM
116
Anfield Capital Management
California
$270 – – –
VWA
117
VSM Wealth Advisory
Maryland
$234 – – –
WA
118
WPG Advisers
Maryland
$227 – – –
1IA
119
1620 Investment Advisors
Massachusetts
$219 – – –
CFD
120
Creative Financial Designs
Indiana
$190 – – –
Northwestern Mutual Wealth Management
121
Northwestern Mutual Wealth Management
Wisconsin
$146 – – –
CA
122
Clearstead Advisors
Ohio
$96 – – –
CA
123
CoreCap Advisors
Michigan
$95 – – –
National Bank of Canada
124
National Bank of Canada
Quebec, Canada
$88 -$10.3K -1,265 -99%
CFS
125
CGC Financial Services
Oregon
$44 – – –
3 4
5
6 7

FCEL Hedge Fund Activity: Q4 2025 in Review

135 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in FuelCell Energy (FCEL) for Q4 2025, worth a combined $156M — up 78% from $87.8M a quarter earlier.

Buyers outnumbered sellers: 40 funds opened new FCEL positions and 22 closed out — a net gain of 18 holders — while 41 added to existing stakes and 18 trimmed.

The largest buyer was Legal & General Group, opening a new position worth an estimated $23.6M. The largest seller was Marshall Wace, cutting an estimated $4.95M.

  • 135 institutional investors held FuelCell Energy (FCEL) as of Q4 2025, up from 117 in Q3 2025.
  • Funds reported $156M of FuelCell Energy stock for Q4 2025, up 78% quarter-over-quarter.
  • 40 funds opened new FuelCell Energy positions in Q4 2025 and 22 closed out, a net change of +18 holders.
  • The largest FuelCell Energy buyer in Q4 2025 was Legal & General Group, an estimated $23.6M added.
  • The largest FuelCell Energy seller in Q4 2025 was Marshall Wace, an estimated $4.95M sold.

Based on aggregated 13F filings for Q4 2025.