The mixed cluster with no insider buying suggests limited conviction.
Executive Summary
A mixed institutional cluster in ADUR for 2026-Q2 shows 3 buyers (Jane Street, RBC, Raymond James) adding $1.7M in net new value, while 2 sellers (UBS, IMC-Chicago) trimmed $375K. The buying is concentrated among active asset managers doubling positions, but the selling by a mega-passive fund and another active manager creates a net mixed conviction signal. No insider buying corroborates the institutional moves, weakening the cluster's bullish thesis.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.7M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Jane Street Group | DOUBLED | +177.4% | $1.2M | $880.0K |
| Royal Bank Of Canada | DOUBLED | +513.5% | $203.0K | $181.0K |
| Raymond James Financial | ADD | +63.1% | $1.1M | $645.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| UBS | TRIM | -58.5% | $789.0K | -$297.1K |
| Imc-Chicago | TRIM | -48.6% | $342.0K | -$78.0K |
Key Facts
- 3 institutional buyers added net $1.7M in ADUR positions in 2026-Q2
- Jane Street Group doubled its stake (+177.4%) to $1.2M
- Royal Bank of Canada more than quintupled its position (+513.5%) to $203K
- Raymond James Financial added 63.1% to reach $1.1M
- UBS trimmed 58.5% of its position, reducing value by $297K
- IMC-Chicago trimmed 48.6%, reducing value by $78K
- No open-market insider buying in the window (confluence score 19/100, verdict: institutions_only)
Financial Impact
3 buyers accumulated $2.5M in current holdings (net change +$1.7M) while 2 sellers reduced holdings by $375K
Risk Factors
- 45-day 13F reporting lag means positions may already be unwound
- No insider buying corroboration weakens the signal
- Small absolute dollar amounts ($2.5M total buying) limit market impact
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-ADUR-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 6-K | $10.13 | awaiting T+60 | — | — |
Oct 15, 2026 11d ago | 6-K | $9.95 | awaiting T+60 | — | — |
Sep 28, 2026 28d ago | SC 13D/A | $12.25 | awaiting T+60 | — | — |
Sep 25, 2026 4w ago | SC 13D/A | $12.31 | awaiting T+60 | — | — |
Sep 1, 2026 8w ago | Press Release | $13.34 | awaiting T+60 | — | — |
Aug 21, 2026 9w ago | Institutional Cluster | $16.04 | awaiting T+60 | — | — |
Jun 25, 2026 17w ago | 6-K | $15.21 $12.61 | ▼ −17.09% | ▼ −23.20% | — |
Jun 17, 2026 18w ago | Press Release | $14.72 $12.90 | ▼ −12.36% | ▼ −15.51% | — |
Jun 12, 2026 19w ago | 6-K | $14.81 $13.26 | ▲ +10.47% | ▲ +11.47% | — |
Jun 10, 2026 19w ago | 6-K | $15.10 $13.58 | ▼ −10.07% | ▼ −14.46% | — |
US Market Status
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