Paragon 28, Inc.
FNA
FNA was delisted on the 17th of April, 2025.
95 hedge funds and large institutions have $515M invested in Paragon 28, Inc. in 2023 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 34 increasing their positions, 31 reducing their positions, and 20 closing their positions.
95% more call options, than puts
Call options by funds: $113K | Put options by funds: $58K
10% more repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 31
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
10% less funds holding
Funds holding: 106 → 95 (-11)
26% less capital invested
Capital invested by funds: $692M → $515M (-$177M)
55% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 20
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
B
Braidwell
Stamford,
Connecticut
|
+$18.5M |
| 2 |
FLAM
First Light Asset Management
Edina,
Minnesota
|
+$10.3M |
| 3 |
GF
Greenhouse Funds
Baltimore,
Maryland
|
+$4.72M |
| 4 |
BlackRock
New York
|
+$3.88M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$3.28M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$4.34M |
| 2 |
Federated Hermes
Pittsburgh,
Pennsylvania
|
-$3.55M |
| 3 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$3.28M |
| 4 |
FAM
Fred Alger Management
New York
|
-$2.45M |
| 5 |
State Street
Boston,
Massachusetts
|
-$1.45M |
FNA Hedge Fund Activity: Q3 2023 in Review
95 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Paragon 28, Inc. (FNA) for Q3 2023, worth a combined $515M — down 26% from $692M a quarter earlier.
Sellers outnumbered buyers: 20 funds closed out of FNA and 9 opened new positions — a net loss of 11 holders — while 31 trimmed existing stakes and 34 added.
The largest buyer was Braidwell, adding an estimated $18.5M. The largest seller was Millennium Management, exiting entirely with an estimated $4.34M sold.
- 95 institutional investors held Paragon 28, Inc. (FNA) as of Q3 2023, down from 106 in Q2 2023.
- Funds reported $515M of Paragon 28, Inc. stock for Q3 2023, down 26% quarter-over-quarter.
- 9 funds opened new Paragon 28, Inc. positions in Q3 2023 and 20 closed out, a net change of -11 holders.
- The largest Paragon 28, Inc. buyer in Q3 2023 was Braidwell, an estimated $18.5M added.
- The largest Paragon 28, Inc. seller in Q3 2023 was Millennium Management, an estimated $4.34M sold.
Based on aggregated 13F filings for Q3 2023.