$HNRG

$11.88 +$0.89 (8.1%) Close

$HNRG Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 47.1M shares outstanding

Who owns HNRG?

By type of holder

Institutions 75.9% Insiders 24.1% Everyone else 0.0%

Concentration Top 10 holders own 97.3%

Lubar David J 43.3% · Bilsland Brent K 14.4%

Institutional ownership

75.9%

+3.3 pts vs last qtr

Institutional holders

171

-13 vs last qtr

Net shares bought

+1.6M

by institutions in Q2 2026

New / sold out

28 / 41

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Highland Peak Capital, LLC NEW +947.2K
Tyro Capital Management LLC NEW +735.5K

Biggest sellers in Q2 2026

Apis Capital Advisors, LLC −639.0K
Empyrean Capital Partners, LP SOLD OUT −500.0K

Who is planning to sell?

Notices of proposed sale, last 12 months

$8.72M

2 notices from 2 people

Shares covered

436.2K

0.93% of the company

Arranged in advance

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Hallador Alternative Assets Fund LLC Affiliate of director $8.3M
David Hardie Director $421K

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2010–FY2025

+151914.3%

+125.71% a year

Each share's claim on the business

−99.9%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

— vs $26.4M

over 10 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years28% 3–5 years15% 1–3 years18% Under 1 year39%

Quarterly turnover

18.3%

of institutional shares changed hands

Top 10 managers, median time held

4.5 years

Super Investors

Investment managers reporting HNRG on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
L Lubar & Co., Inc	5.5M	11.56%	Unchanged	Q4 '25	75.0%
Shares held by quarter Peak holding5.5M (Q4'25) Change over 8 quarters+5.5M Share of the company11.560% Lubar & Co., Inc's full portfolio →
B BlackRock, Inc.	2.9M	6.05%	+457.1K (+19.1%)	≤2021	0.0%
Shares held by quarter Peak holding2.9M (Q2'26) Change over 8 quarters+989.8K Share of the company6.050% BlackRock, Inc.'s full portfolio →

Lubar & Co., Inc

5.5M

% of company

11.56%

Change vs last qtr

Unchanged

Held since

Q4 '25

BlackRock, Inc.

2.9M

% of company

6.05%

Change vs last qtr

+457.1K (+19.1%)

Held since

≤2021

28 more super investors behind a free account

See every manager holding Hallador Energy Company, how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting HNRG on Form N-PORT; together they hold 28.3% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
AV Aegis Value Fund Aegis Funds	$30.5M	1.8M	3.72%	2.70%	June 30, 2026
AU Avantis U.S. Small Cap Value ETF American Century ETF Trust	$24.1M	1.2M	2.65%	0.09%	May 31, 2026

Aegis Value Fund

Aegis Funds

Position value

$30.5M

% of company

3.72%

% of the fund

2.70%

As of

June 30, 2026

Avantis U.S. Small Cap Value ETF

American Century ETF Trust

Position value

$24.1M

% of company

2.65%

% of the fund

0.09%

As of

May 31, 2026

23 more funds behind a free account

See every fund holding Hallador Energy Company and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
LD Lubar David J Insider	20.4M	43.33%	—	—	—	—
Insider holdings come from Form 3/4/5 filings, which are not quarterly. Share of the company43.330% Lubar David J's insider activity →
BB Bilsland Brent K Insider	6.8M	14.36%	—	—	—	—
Insider holdings come from Form 3/4/5 filings, which are not quarterly. Share of the company14.360% Bilsland Brent K's insider activity →

Lubar David J

Insider

20.4M

% of company

43.33%

Change vs last qtr

—

Held since

—

Bilsland Brent K

Insider

6.8M

% of company

14.36%

Change vs last qtr

—

Held since

—

10 more holders behind a free account

See every insider and 5%+ holder of Hallador Energy Company.

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