Seven institutional investors, led by State Street and Russell Investments, added $11.1M across their ASAN holdings in Q2 2026 while only one asset manager (Walleye Capital) nearly exited a $4.4M position. The cluster is dominated by active mid-size advisors and one mega-passive manager, with no insider open-market buying to corroborate the conviction.
Executive Summary
Seven institutional investors, led by State Street and Russell Investments, added $11.1M across their ASAN holdings in Q2 2026 while only one asset manager (Walleye Capital) nearly exited a $4.4M position. The cluster is dominated by active mid-size advisors and one mega-passive manager, with no insider open-market buying to corroborate the conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: $6.8M
▲ Buyers (7)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Street | ADD | +28.2% | $24.3M | $7.0M |
| Russell Investments Group | DOUBLED | +236.1% | $3.5M | $2.5M |
| Walleye Trading | DOUBLED | +197% | $1.1M | $740.0K |
| Wealth Enhancement Advisory Services | DOUBLED | +153.9% | $787.0K | $481.0K |
| Farther Finance Advisors | DOUBLED | +1434.3% | $227.0K | $214.0K |
| Merit Financial Group | ADD | +62.6% | $200.0K | $88.0K |
| Police & Firemen's Retirement System Of New | ADD | +31.1% | $201.0K | $61.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Walleye Capital | NEAR_EXIT | -98.5% | $4.4M | -$4.3M |
Key Facts
- 7 buyers added a net $11.1M; 1 seller reduced by $4.3M
- State Street (passive) led with a $7.0M increase to $24.3M
- Russell Investments doubled its position (+236%) to $3.5M
- Walleye Trading doubled (+197%) to $1.1M; Walleye Capital nearly exited (-98.5%) a $4.4M position
- Insider (Form 4) confluence score is low at 18/100 — no open-market insider buying in the quarter
Financial Impact
Net institutional buying of approximately $11.1M, with State Street alone adding $7.0M; one seller removed $4.3M
Risk Factors
- Walleye Capital's full exit of a large position may signal undisclosed negative views
- 45-day 13F reporting lag means the cluster may have been unwound
- No insider buying reduces conviction that management shares the bullish thesis
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-ASAN-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 6w ago | 144 | $9.58 $9.51 | ▼ −0.73% | ▼ −0.45% | — |
Aug 7, 2026 8w ago | Institutional Cluster | $9.26 $8.81 | ▼ −4.86% | ▼ −4.46% | — |
Jun 30, 2026 13w ago | Insider Cluster | $7.31 $8.51 | ▲ +16.42% | ▲ +18.60% | — |
May 28, 2026 18w ago | 8-K | $7.70 $7.00 | ▼ −9.09% | ▼ −7.30% | — |
Apr 20, 2026 23w ago | DEFA14A | $6.36 $6.56 | ▲ +3.14% | ▼ −1.77% | — |
Apr 20, 2026 23w ago | 8-K | $6.36 $6.56 | ▲ +3.14% | ▼ −1.77% | — |
Mar 20, 2026 28w ago | Insider Cluster | $6.65 $6.29 | ▲ +5.41% | ▲ +14.73% | — |
Mar 20, 2026 28w ago | Insider Cluster | $6.65 $6.29 | ▼ −5.41% | ▼ −14.73% | — |
Mar 20, 2026 28w ago | Insider Cluster | $6.65 $6.29 | ▼ −5.41% | ▼ −14.73% | — |
US Market Status
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