Monitor for follow-on buying from other long-term investors; watch for Q1 earnings or guidance changes that may explain the divergence between passive/sovereign buyers and active/quant sellers.
Executive Summary
Three major institutions, including sovereign wealth fund Norges Bank and passive giant BofA, significantly increased positions in Analog Devices, with aggregate buying of $3.14B. However, two active/quant funds trimmed holdings by $57.9M, signaling mixed conviction. The cluster reflects diverging views between long-term and quantitative investors.
Key Financial Metrics
Institutional Positions
Net institutional flow: $3.1B
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Norges Bank | NEW | +0% | $2.2B | $2.2B |
| BofA | ADD | +39.4% | $2.6B | $922.3M |
| Two Sigma | ADD | +28.1% | $7.4M | $2.2M |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Dodge & Cox | TRIM | -32.6% | $7.6M | -$1.9M |
| RenTech | TRIM | -43% | $150.8M | -$56.0M |
Key Facts
- Norges Bank initiated a new $2.22B position in ADI, the largest single new position in the cluster.
- BofA added $922.3M to its existing stake, increasing shares by 39.4%.
- Two quant/active funds — Dodge & Cox and RenTech — reduced holdings by a combined $57.9M.
- Total institutional buying ($3.14B) far outweighs selling ($57.9M), but the sellers are high-conviction active managers.
Financial Impact
3 institutions accumulated $3.14B in new positions while 2 reduced holdings by $57.9M
Risk Factors
- RenTech's significant trim could indicate short-term technical or model-driven concerns.
- Divergence between passive and active managers may signal uncertainty around valuation or semiconductor sector outlook.
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-ADI-2025-Q4 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Insider Cluster | $361.25 $362.65 | ▲ +0.39% | ▲ +0.89% | — |
Sep 9, 2026 23d ago | Insider Cluster | $361.25 $362.65 | ▲ +0.39% | ▲ +0.89% | — |
Sep 9, 2026 23d ago | 8-K | $365.07 $362.04 | ▼ −0.83% | ▼ −0.17% | — |
Sep 2, 2026 4w ago | Insider Cluster | $355.42 $361.25 | ▲ +1.64% | ▲ +2.60% | — |
Aug 28, 2026 5w ago | Insider Cluster | $361.78 $362.25 | ▲ +0.13% | ▲ +0.02% | — |
Aug 19, 2026 6w ago | 8-K | $373.26 $371.80 | ▼ −0.39% | ▼ −0.00% | — |
Aug 9, 2026 7w ago | Institutional Cluster | $383.93 $390.28 | ▲ +1.66% | ▲ +1.70% | — |
Aug 6, 2026 8w ago | Insider Cluster | $375.81 $380.89 | ▲ +1.35% | ▲ +0.14% | — |
Jul 23, 2026 10w ago | Press Release | $371.86 $366.67 | ▲ +1.40% | ▲ +1.77% | — |
Jul 14, 2026 11w ago | Insider Cluster | $392.75 $372.46 | ▼ −5.17% | ▼ −3.87% | — |
US Market Status
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