Monitor BBY's next earnings release for fundamental deterioration that may have prompted Assenagon's large exit. The absence of insider buying alongside this institutional selling is a cautionary signal — no corroborating conviction from company insiders.
Executive Summary
Institutional activity in BBY during Q3 2026 was mixed: six smaller asset managers accumulated $4.4M in new positions, but three larger sellers — led by Assenagon's near-total exit of a $40.3M stake — drove a net outflow of $40.4M. The cluster is dominated by passive and non-activist asset managers, suggesting routine rebalancing rather than a shared catalyst.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$40.4M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | ADD | +65.5% | $1.6M | $791.0K |
| Td Waterhouse Canada | DOUBLED | +236.6% | $2.1M | $1.5M |
| Pensiondanmark Pensionsforsikringsaktieselskab | ADD | +87.5% | $956.0K | $518.0K |
| Assetmark | ADD | +71.5% | $298.0K | $149.0K |
| Abn Amro Investment Solutions | ADD | +44.7% | $1.4M | $555.0K |
| Hb Wealth Management | DOUBLED | +117.7% | $1.5M | $881.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | NEAR_EXIT | -97.4% | $40.3M | -$39.1M |
| Concurrent Investment Advisors | TRIM | -54.5% | $8.2M | -$5.0M |
| Sumitomo Mitsui Ds Asset Management Company | TRIM | -30.7% | $3.3M | -$640.0K |
Key Facts
- 6 buyers added $4.4M in net new positions; 3 sellers reduced holdings by $44.8M
- Assenagon Asset Management exited 97.4% of its BBY position, selling $39.1M worth of shares
- Td Waterhouse Canada doubled its stake (+236.6%), adding $1.5M in value
- All participants are asset managers — no activist, hedge fund, or insider buying present
- 13F data is 45+ days stale; current positioning may differ materially
Financial Impact
Net institutional outflow of $40.4M: 6 buyers accumulated $4.4M while 3 sellers liquidated $44.8M, led by Assenagon's $39.1M near-exit
Risk Factors
- 13F data is stale by 45+ days; the cluster may have already reversed
- Assenagon's near-total exit suggests a negative thesis that smaller buyers may not offset
- No activist or high-conviction fund involvement weakens the cluster signal
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-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 144 | $97.95 | awaiting T+5 | — | — |
Oct 23, 2026 4d ago | Institutional Cluster | $99.87 | awaiting T+5 | — | — |
Sep 25, 2026 4w ago | S-3ASR | $89.91 $87.39 | ▼ −2.80% | ▼ −4.01% | — |
Sep 24, 2026 4w ago | Insider Cluster | $90.51 $87.97 | ▼ −2.81% | ▼ −2.58% | — |
Aug 27, 2026 8w ago | 8-K | $83.56 $87.00 | ▲ +4.12% | ▲ +4.89% | — |
Aug 6, 2026 11w ago | Institutional Cluster | $80.02 $85.35 | ▲ +6.66% | ▲ +5.45% | — |
Jun 22, 2026 18w ago | 8-K | $75.15 $77.64 | ▲ +3.31% | ▲ +2.30% | — |
Jun 9, 2026 20w ago | Court Ruling | $75.64 $73.10 | ▼ −3.36% | ▼ −5.50% | — |
Jun 2, 2026 21w ago | Insider Cluster | $71.69 $75.64 | ▼ −5.51% | ▼ −9.33% | — |
May 28, 2026 21w ago | 8-K | $74.73 $70.94 | ▼ −5.07% | ▼ −5.39% | — |
US Market Status
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