The cluster is mixed but net bearish in dollar terms. The large Mirae trim may reflect a thesis change or rebalancing; watch for further institutional selling in Q4 2026 filings. The absence of insider buying weakens the bullish signal from the three small adds.
Executive Summary
Three asset managers added small positions in AIRR during Q3 2026, while three other institutions reduced holdings by a larger aggregate amount. The net institutional flow was negative, with $1.4M in buying versus $24.7M in selling, driven primarily by a single large trim from Mirae Asset Global Investments. No insider buying corroborates the cluster.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$23.3M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Meitav Investment House | ADD | +41.2% | $9.4M | $809.0K |
| Concurrent Investment Advisors | ADD | +36.2% | $8.3M | $434.0K |
| Vontobel Holding | ADD | +57% | $697.0K | $124.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Mirae Asset Global Investments Co. | TRIM | -51.7% | $38.1M | -$23.9M |
| Td Waterhouse Canada | NEAR_EXIT | -97.8% | $589.0K | -$578.0K |
| Hb Wealth Management | TRIM | -40.6% | $505.0K | -$273.0K |
Key Facts
- 3 buyers added $1.4M in net new value; 3 sellers reduced by $24.7M
- Mirae Asset Global Investments trimmed 51.7% of its position, selling $23.9M worth
- Td Waterhouse Canada nearly exited, reducing 97.8% of its stake
- No open-market insider buying in the window (confluence score 18/100)
- All participants are asset managers; no passive/index funds dominate the cluster
Financial Impact
Net institutional selling of $23.3M in Q3 2026, with $23.9M of that from a single seller (Mirae Asset Global Investments)
Risk Factors
- 13F data is 45+ days stale; positions may have been reversed since quarter-end
- Small buyer positions ($9.4M, $8.3M, $697K) are dwarfed by the single large seller ($14.2M remaining)
- No insider buying to corroborate the accumulation signal
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-AIRR-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Institutional Cluster | $101.69 | awaiting T+60 | awaiting T+60 | No price |
Jul 29, 2026 13w ago | Institutional Cluster | $110.36 $96.17 | ▼ −12.86% | ▼ −17.59% | No price |
US Market Status
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