The cluster is dominated by a single large near-exit (Robeco) and small adds from two minor holders, suggesting no broad institutional conviction change. Monitor upcoming 10-Q for any operational or guidance shift that may have driven the selling.
Executive Summary
A small institutional cluster in AECOM (ACM) shows mixed activity in Q3 2026: two small asset managers added modest positions totaling $141K, while three sellers reduced holdings by $19.6M, led by Robeco Institutional Asset Management's near-exit of a $21.2M position. The net selling pressure is significant relative to buying, but the cluster involves only small or foreign institutions with no insider buying corroboration.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$19.5M
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | ADD | +89% | $142.0K | $53.0K |
| Td Waterhouse Canada | ADD | +27.4% | $740.0K | $88.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Daiwa Securities Group | TRIM | -30.4% | $712.0K | -$293.0K |
| Fjarde Ap-Fonden /Fourth Swedish National | TRIM | -68.6% | $10.0K | -$7.0K |
| Robeco Institutional Asset Management B.v. | NEAR_EXIT | -89.5% | $21.2M | -$19.3M |
Key Facts
- Two buyers added $141K in aggregate: Farther Finance Advisors (+89.0%, $53K) and Td Waterhouse Canada (+27.4%, $88K).
- Three sellers reduced holdings by $19.6M: Daiwa Securities Group trimmed 30.4% ($293K), Fjarde Ap-Fonden trimmed 68.6% ($7K), and Robeco Institutional Asset Management nearly exited 89.5% ($19.3M).
- Net aggregate change: sellers reduced $19.6M vs buyers added $141K, a net outflow of approximately $19.5M.
- No open-market insider buying was detected in the window (confluence score 12/100, verdict 'institutions_only').
- All five institutions are asset managers; no activist or hedge fund involvement.
Financial Impact
Sellers reduced holdings by $19.6M, while buyers added only $141K, resulting in a net institutional outflow of approximately $19.5M in Q3 2026.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound or reversed since quarter-end.
- The cluster is small (5 institutions) and net selling is concentrated in one fund (Robeco), reducing signal reliability.
- No insider buying corroboration weakens the conviction signal.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ACM-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Institutional Cluster | $63.51 $63.34 | ▲ +0.27% | ▼ −1.51% | No price |
Oct 8, 2026 24d ago | 3 | $59.28 $59.01 | ▼ −0.46% | ▼ −0.40% | No price |
Sep 17, 2026 6w ago | 8-K | $63.41 $61.99 | ▼ −2.24% | ▼ −2.12% | No price |
Aug 10, 2026 11w ago | 8-K | $67.05 $61.04 | ▲ +8.96% | ▲ +9.21% | No price |
Aug 7, 2026 12w ago | Institutional Cluster | $75.81 $72.89 | ▲ +3.85% | ▲ +3.82% | No price |
Aug 7, 2026 12w ago | GOVT-CONTRACT | $73.30 $67.05 | ▼ −8.53% | ▼ −8.21% | No price |
Aug 5, 2026 12w ago | GOVT-CONTRACT | $74.93 $75.84 | ▲ +1.21% | ▲ +0.60% | No price |
Jun 30, 2026 17w ago | Court Ruling | $66.51 $67.39 | ▲ +1.32% | ▲ +1.45% | No price |
Jun 11, 2026 20w ago | 8-K | $70.12 $69.59 | ▼ −0.76% | ▼ −2.52% | No price |
Jun 3, 2026 21w ago | 8-K | $72.40 $72.66 | ▲ +0.36% | ▼ −0.04% | No price |
US Market Status
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