Davenport & Co's significant trim (33.4% of position) suggests conviction loss, but Assenagon's larger add partially offsets. Monitor next 13F for whether Davenport continued reducing or reversed course.
Executive Summary
ALGN institutional cluster shows 3 sellers trimming $28.0M vs 1 buyer adding $33.8M, net slightly bearish. Davenport & Co's $27.8M trim dominates, while Assenagon's $33.8M add provides partial offset. 45-day reporting lag and small fund count cap conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: $5.8M
▲ Buyers (1)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | ADD | +52.9% | $140.2M | $33.8M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Davenport & Co | TRIM | -33.4% | $64.9M | -$27.8M |
| Mather Group | TRIM | -34.1% | $112.0K | -$49.0K |
| Vontobel Holding | TRIM | -30.2% | $335.0K | -$134.0K |
Key Facts
- 3 institutional sellers trimmed $28.0M aggregate; 1 buyer added $33.8M
- Davenport & Co cut 33.4% of its ALGN position, reducing value by $27.8M
- Assenagon Asset Management increased stake by 52.9%, adding $33.8M
- All 4 funds are active asset managers — no passive/index fund participation
- 13F data is ~45 days stale; positions may have been unwound since quarter-end
Financial Impact
Net institutional flow: $33.8M buying vs $28.0M selling, net +$5.8M. Davenport & Co's $27.8M trim is the largest directional move.
Risk Factors
- 13F data is stale (45-day lag); cluster may have already reversed
- Small sample (4 funds) limits signal reliability
- No insider buying to corroborate institutional thesis
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-ALGN-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | PTAB Trial | $155.51 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | Institutional Cluster | $148.90 | awaiting T+20 | — | — |
Aug 31, 2026 8w ago | 8-K | $154.96 $145.35 | ▼ −6.20% | ▼ −6.52% | — |
Aug 10, 2026 11w ago | Court Ruling | $172.96 $152.92 | ▲ +11.58% | ▲ +10.53% | — |
Aug 3, 2026 12w ago | Institutional Cluster | $173.27 $154.96 | ▲ +10.57% | ▲ +9.33% | — |
Jul 21, 2026 14w ago | Court Ruling | $172.46 $163.04 | ▼ −5.46% | ▼ −8.36% | — |
Jul 7, 2026 16w ago | Court Ruling | $174.68 $174.83 | ▲ +0.09% | ▼ −3.19% | — |
Jun 18, 2026 18w ago | 8-K | $173.76 $176.76 | ▲ +1.73% | ▲ +1.87% | — |
May 29, 2026 21w ago | Court Ruling | $169.77 $168.66 | ▲ +0.65% | ▼ −0.64% | — |
Apr 17, 2026 27w ago | DEFA14A | $191.43 $158.66 | ▼ −17.12% | ▼ −21.32% | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers