The cluster is directionally mixed: the buying is broad but dominated by smaller asset managers, while the largest single action is a near-exit by a significant holder. Monitor for a catalyst (e.g., earnings or contract win) to confirm the buying thesis before acting.
Executive Summary
A mixed institutional cluster in BBAI for 2026-Q2 shows 9 buyers adding $9.0M in net new positions (led by National Bank of Canada doubling to $7.9M and IMC-Chicago doubling to $4.3M) against 5 sellers trimming $1.9M (led by Mercer Global Advisors' near-exit of $1.8M). The buying is dominated by active asset managers, but the largest single move is a near-complete exit by a significant holder, creating a divergent signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $7.1M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| National Bank Of Canada | DOUBLED | +110.6% | $7.9M | $4.3M |
| Imc-Chicago | DOUBLED | +160.5% | $4.3M | $2.7M |
| Citigroup | ADD | +99.3% | $2.1M | $1.1M |
| Russell Investments Group | DOUBLED | +168.7% | $995.0K | $640.0K |
| Wealthfront Advisers | ADD | +31% | $387.0K | $104.0K |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Mercer Global Advisors Inc /Adv | NEAR_EXIT | -98.4% | $1.8M | -$1.8M |
| Hightower Advisors | TRIM | -36.1% | $102.0K | -$33.9K |
| Vontobel Holding | TRIM | -33.5% | $83.0K | -$25.5K |
| Kestra Advisory Services | TRIM | -32.6% | $65.0K | -$19.3K |
| Pnc Financial Services Group | TRIM | -37.3% | $11.0K | -$3.9K |
Key Facts
- 9 institutional buyers added $9.0M in net new positions during 2026-Q2, while 5 sellers reduced holdings by $1.9M
- National Bank of Canada was the largest buyer, doubling its stake to $7.9M (2.15M shares)
- IMC-Chicago doubled its position to $4.3M (1.18M shares), the second-largest buyer
- Mercer Global Advisors executed a near-exit, selling 98.4% of its stake ($1.8M → $31K)
- All buyers and sellers are categorized as asset managers; no activist or hedge fund names are present
- No open-market insider buying was detected, and the 13F × Form 4 confluence score is low (18/100, divergent)
Financial Impact
9 institutional buyers accumulated $9.0M in new positions while 5 sellers reduced holdings by $1.9M, for a net institutional inflow of approximately $7.1M
Risk Factors
- Mercer Global Advisors' near-exit suggests a potential loss of confidence by a significant institutional holder
- No insider buying to corroborate the institutional accumulation
- 13F data is 45+ days old; positions may have already been unwound
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-BBAI-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 8-K | $2.37 | awaiting T+20 | — | — |
Aug 12, 2026 10w ago | Institutional Cluster | $3.26 $2.82 | ▼ −13.50% | ▼ −11.60% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $4.14 $3.32 | ▼ −19.81% | ▼ −21.70% | — |
May 8, 2026 24w ago | 144 | — | awaiting T+20 | — | — |
May 5, 2026 25w ago | 8-K | — | awaiting T+20 | — | — |
Apr 10, 2026 28w ago | DEFA14A | — | awaiting T+20 | — | — |
Mar 20, 2026 31w ago | DEFA14A | $3.68 $3.79 | ▲ +2.99% | ▼ −4.43% | — |
Mar 19, 2026 31w ago | DEFA14A | $3.58 $3.84 | ▲ +7.26% | ▼ −2.06% | — |
US Market Status
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