The cluster is split: passive/index funds are accumulating (likely due to index rebalancing or ETF inflows), while active quants and some mega-passives are exiting. The full exits by Millennium, Point72, and Marshall Wace are a red flag. Monitor for insider buying or a catalyst (e.g., tungsten price move, operational update) that could explain the divergence. The 45-day reporting lag means these positions may already be unwound.
Executive Summary
A significant institutional cluster in Almonty Industries (ALM) shows 37 buyers adding $227.1M in new positions versus 12 sellers reducing by $192.6M, for net buying of $34.5M. The buying is dominated by mega-passive funds (Vanguard, Geode) and large asset managers (Swedbank, Jane Street, Bank of Montreal), while the selling is concentrated among mega-passive funds (Goldman Sachs, UBS) and quant funds (Millennium, Point72, Marshall Wace) making full exits.
Key Financial Metrics
Institutional Positions
Net institutional flow: $34.5M
▲ Buyers (37)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Swedbank Ab | NEW | +0% | $85.4M | $85.4M |
| Vanguard | ADD | +37.1% | $149.4M | $53.6M |
| Jane Street Group | DOUBLED | +316.9% | $36.3M | $28.7M |
| Bank Of Montreal /Can | NEW | +0% | $25.6M | $25.6M |
| Geode | DOUBLED | +483.1% | $30.4M | $25.8M |
▼ Sellers (12)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Goldman Sachs | NEAR_EXIT | -80.2% | $72.0M | -$55.8M |
| UBS | NEAR_EXIT | -86.5% | $50.6M | -$42.8M |
| Millennium | EXIT | -100% | $30.5M | -$30.5M |
| Marshall Wace | EXIT | -100% | $25.3M | -$25.3M |
| Point72 | EXIT | -100% | $14.7M | -$14.7M |
Key Facts
- 37 institutional buyers added $227.1M in new positions, 12 sellers reduced by $192.6M
- Top buyers: Swedbank (NEW, $85.4M), Vanguard (ADD, $53.6M), Jane Street (DOUBLED, $28.7M), Bank of Montreal (NEW, $25.6M), Geode (DOUBLED, $25.8M)
- Top sellers: Goldman Sachs (NEAR_EXIT, -$55.8M), UBS (NEAR_EXIT, -$42.8M), Millennium (EXIT, -$30.5M), Marshall Wace (EXIT, -$25.3M), Morgan Stanley (TRIM, -$12.4M)
- Passive/index funds dominate both sides, but active managers (Swedbank, Jane Street, Bank of Montreal) are net buyers
- Quant funds (Point72, Millennium, Marshall Wace) fully exited, suggesting a bearish catalyst or thesis breakdown
Financial Impact
Net institutional buying of $34.5M (buyers added $227.1M, sellers reduced $192.6M) in Q2 2026
Risk Factors
- 13F data is 45+ days stale; positions may have been reversed
- Full exits by multiple quant funds signal potential fundamental deterioration
- Passive buying may be mechanical (index rebalancing) rather than conviction-driven
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-ALM-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | 6-K | $10.98 $8.90 | ▼ −18.94% | ▼ −17.79% | — |
Oct 5, 2026 22d ago | 6-K | $13.52 $11.08 | ▼ −18.05% | ▼ −18.47% | — |
Sep 29, 2026 27d ago | 6-K | $13.16 $12.10 | ▼ −8.05% | ▼ −9.97% | — |
Sep 29, 2026 28d ago | 6-K | $13.19 $13.04 | ▼ −1.14% | ▼ −3.09% | — |
Sep 22, 2026 4w ago | Institutional Cluster | $14.35 $13.19 | ▼ −8.08% | ▼ −6.90% | — |
Sep 21, 2026 5w ago | 6-K | $14.66 $13.21 | ▼ −9.89% | ▼ −8.87% | — |
Sep 17, 2026 5w ago | 6-K | $14.13 $12.40 | ▼ −12.24% | ▼ −12.84% | — |
Sep 14, 2026 6w ago | 6-K | $14.70 $14.66 | ▼ −0.27% | ▼ −0.38% | — |
Aug 17, 2026 10w ago | 6-K | $16.36 $18.28 | ▲ +11.74% | ▲ +12.93% | — |
Jul 14, 2026 15w ago | 6-K | $15.79 $13.93 | ▼ −11.78% | ▼ −10.48% | — |
US Market Status
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