The cluster is directionally mixed with a net bullish bias, but the absence of activist or high-conviction hedge fund involvement and divergent insider activity limit conviction. Monitor upcoming earnings for consumer spending trends; the accumulation by active managers like Robeco and Assenagon suggests some see value, but the selling by Walleye and STRS Ohio indicates caution. The 45-day reporting lag means positions may have already been adjusted.
Executive Summary
A mixed institutional cluster in BBY for Q2 2026 shows 11 buyers accumulating $92.0M (led by Assenagon Asset Management's massive $39.3M addition and Robeco's $28.3M increase) against 9 sellers reducing by $18.5M (led by Walleye Capital trimming $5.7M and STRS Ohio nearly exiting $8.6M). The buying is dominated by active asset managers, but the selling includes notable trims from Swiss Life and Walleye, and insider activity is divergent with no open-market buying, weakening the bullish signal. The cluster suggests a split view on Best Buy's near-term outlook amid consumer electronics demand uncertainty, with the net $73.5M accumulation providing a modest positive tilt but insufficient to confirm a strong directional thesis.
Key Financial Metrics
Institutional Positions
Net institutional flow: $73.5M
▲ Buyers (11)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +3213.5% | $40.3M | $39.3M |
| Robeco Institutional Asset Management B.v. | ADD | +49.5% | $65.3M | $28.3M |
| Td Asset Management | ADD | +34% | $19.6M | $7.2M |
| Erste Asset Management | ADD | +54.5% | $11.4M | $5.3M |
| Cibc Asset Management | DOUBLED | +113.3% | $8.3M | $5.0M |
▼ Sellers (9)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Strs Ohio | NEAR_EXIT | -96.1% | $9.0M | -$8.6M |
| Walleye Capital | TRIM | -44.1% | $16.9M | -$5.7M |
| Seb Asset Management Ab | TRIM | -33% | $7.5M | -$1.6M |
| Swiss Life Asset Management | TRIM | -33% | $33.0M | -$900.7K |
| Merit Financial Group | TRIM | -56.6% | $1.5M | -$725.6K |
Key Facts
- 11 institutional buyers added $92.0M in new BBY positions during Q2 2026
- 9 institutional sellers reduced holdings by $18.5M
- Assenagon Asset Management nearly quadrupled its position, adding $39.3M (3,213% increase)
- Robeco Institutional Asset Management added $28.3M, a 49.5% increase
- STRS Ohio nearly exited, selling 96.1% of its position ($8.6M)
- Walleye Capital trimmed $5.7M (44.1% reduction)
- No open-market insider buying during the quarter (confluence score 22/100, divergent)
- All buyers and sellers are categorized as asset managers — no activist or hedge fund involvement
Financial Impact
Net institutional accumulation of $73.5M ($92.0M buying vs $18.5M selling) across 20 funds
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- No insider buying corroborates the accumulation thesis
- Consumer electronics demand remains sensitive to macro headwinds
- Historical calibration shows score-6 reports on BBY have only 41% win rate at T+20
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-BBY-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 27, 2026 5w ago | 8-K | $83.56 $89.67 | ▲ +7.31% | ▲ +7.42% | — |
Aug 6, 2026 8w ago | Institutional Cluster | $80.02 $87.49 | ▲ +9.34% | ▲ +8.74% | — |
Jun 22, 2026 14w ago | 8-K | $75.15 $85.13 | ▲ +13.28% | ▲ +12.12% | — |
Jun 9, 2026 16w ago | Court Ruling | $75.12 $78.72 | ▲ +4.79% | ▲ +3.35% | — |
Jun 2, 2026 17w ago | Insider Cluster | $71.69 $77.23 | ▼ −7.73% | ▼ −8.86% | — |
May 28, 2026 18w ago | 8-K | $74.73 $76.89 | ▲ +2.89% | ▲ +5.58% | — |
Apr 22, 2026 23w ago | 8-K | $63.46 $59.29 | ▼ −6.57% | ▼ −9.73% | — |
Mar 23, 2026 27w ago | Insider Cluster | $63.97 $66.56 | ▼ −4.05% | ▲ +3.37% | — |
US Market Status
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