13FPulse
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FS

FSLR FIRST SOLAR INC

2026Q2 · CUSIP 336433107 · Solar & Clean Energy · Sector: Semiconductors

Piling in

Net holder growth ranks near the top of the market

Funds that own it
984
Institutions that reported holding it to the SEC
Net increase in holders
+18
Last quarter 966 → now 984
How unusual is that
Top 20%
Stronger buying than 81% of US stocks
What the filings say, in one paragraph

984 funds held FSLR at the end of 2026Q2, up 18 from the quarter before. That is stronger buying than 81.4% of US stocks — among the most piled-into names this quarter. On the business itself, revenue over the last 12 months was $5.4B(YoY +23.8%), the P/E is 12.5x, return on equity is 16.9%. FSLR has had 22 buying rushes in its history, and the price moved -5.1% on average over the six months after (that is the raw price move, not how much it beat the market by). It sits in the Semiconductors sector, tagged Solar & Clean Energy.

How many funds owned it, quarter by quarter

Bars = net change in institutional holders, positive (green) or negative (red). Line = total institutional holders.

2013Q3: holders=300 2013Q4: holders=367 2014Q1: holders=354 2014Q2: holders=353 2014Q3: holders=356 2014Q4: holders=340 2015Q1: holders=355 2015Q2: holders=348 2015Q3: holders=367 2015Q4: holders=412 2016Q1: holders=444 2016Q2: holders=410 2016Q3: holders=352 2016Q4: holders=332 2017Q1: holders=313 2017Q2: holders=337 2017Q3: holders=341 2017Q4: holders=404 2018Q1: holders=400 2018Q2: holders=388 2018Q3: holders=379 2018Q4: holders=355 2019Q1: holders=379 2019Q2: holders=377 2019Q3: holders=406 2019Q4: holders=398 2020Q1: holders=372 2020Q2: holders=379 2020Q3: holders=446 2020Q4: holders=540 2021Q1: holders=499 2021Q2: holders=482 2021Q3: holders=504 2021Q4: holders=517 2022Q1: holders=499 2022Q2: holders=463 2022Q3: holders=572 2022Q4: holders=672 2023Q1: holders=733 2023Q2: holders=747 2023Q3: holders=737 2023Q4: holders=784 2024Q1: holders=790 2024Q2: holders=908 2024Q3: holders=922 2024Q4: holders=891 2025Q1: holders=823 2025Q2: holders=874 2025Q3: holders=935 2025Q4: holders=1059 2026Q1: holders=966 2026Q2: holders=984 -124 -62 +0 +62 +124 2706911112 13Q315Q116Q318Q119Q321Q122Q324Q125Q326Q2 Net change in holders (bars) Total funds holding (line)

What happened after each past buying rush 22 times in its history

Quarter of the rush How unusual then Price, next 3 months Price, next 6 months
2026Q2 Top 20% — —
2025Q4 Top 5% +2.0% —
2025Q3 Top 5% -8.0% -6.2%
2025Q2 Top 5% +15.4% +8.8%
2024Q2 Top 1% in the market -13.4% -27.9%
2023Q4 Top 20% +25.9% +45.5%
2023Q2 Top 20% -22.3% -16.7%
2023Q1 Top 1% in the market -12.5% -27.3%

These are the raw price moves, not how much it beat the market by. Compare them against the market over the same months — in a strong bull market almost everything is up.

Show all the numbers (large funds, value held, options…) ▾
Of them, large funds
313
Change in large funds
+16
Total value they hold
$23.3B
Funds buying for the first time
161
Funds that sold out entirely
143
Price change that quarter
-13.3%
Funds holding puts (bearish)
38
Funds holding calls (bullish)
44

These are for people who want to dig. Skip them if they do not mean anything to you — the three numbers above are enough.

8,697 institutions have filed for this quarter. 13F permits late filing and a small number arrive in the weeks after the deadline, so the holder counts and changes below may tick up.

Fundamentals

PE (TTM)
12.5
EPS (TTM)
$16.22
EPS YoY
+38.6%
Revenue (TTM)
$5.4B
Revenue YoY
+23.8%
Net margin
32.5%
ROE
16.9%
Debt ratio
22.9%
FCF (TTM)
$1.5B
Dividend (TTM)
No dividend
Quarterly Revenue & EPS
2022-09-30: EPS -0.46 2022-12-31: EPS -0.06 2023-03-31: EPS 0.40 2023-06-30: EPS 1.59 2023-09-30: EPS 2.50 2023-12-31: EPS 3.25 2024-03-31: EPS 2.20 2024-06-30: EPS 3.25 2024-09-30: EPS 2.91 2024-12-31: EPS 3.66 2025-03-31: EPS 1.95 2025-06-30: EPS 3.18 2025-09-30: EPS 4.24 2025-12-31: EPS 4.84 2026-03-31: EPS 3.22 2026-06-30: EPS 3.92 0B 0.8B 1.7B $B -0.51 2.41 5.32 2016201720182019202020212022202320242025202606/26 Revenue EPS

Quarterly figures, revenue up to 10 years back; EPS split-adjusted, early quarters hidden when not calibrable

P/E (TTM) over time
4Y median 17 12 74 137 2023202420252026

P/E = close around day 47 after quarter-end ÷ TTM EPS then; this is a consistent valuation date, not the company’s actual filing date; loss quarters hidden

Quarterly free cash flow
-814M128M1.1B 20162017201820192020202120222023202420252026
Latest quarter $-333M (2026-03-31)

FCF = operating cash flow − capex, computed from SEC XBRL; banks/insurers have no standard cash-flow structure and are hidden

As of 2026-06-30 · SEC filings (XBRL)

Email me the next update

2026 Q3 holdings are due 2026-11-16. We will email you when the refreshed lists are live.