The cluster is dominated by active managers (not passive/index funds), which strengthens the signal. However, the 45-day 13F lag means these positions are already stale. Watch for any subsequent 13D/A or 13G filings that could reveal activist intent, and monitor Q3 2026 13F filings to see if these positions were maintained or exited. The lack of insider buying reduces conviction — treat as a moderate bullish signal, not a high-conviction catalyst.
Executive Summary
A strong institutional cluster formed in BHE during 2026-Q2, with 5 buyers accumulating $78.1M net vs 1 seller trimming $232K. The two largest moves were new positions by Massachusetts Financial Services ($42.1M) and Jennison Associates ($33.1M), both asset managers. The cluster is dominated by active managers and signals a shared bullish thesis on Benchmark Electronics, though the 45-day reporting lag means positions may have been adjusted since quarter-end.
Key Financial Metrics
Institutional Positions
Net institutional flow: $78.1M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Massachusetts Financial Services | NEW | +0% | $42.1M | $42.1M |
| Jennison Associates | NEW | +0% | $33.1M | $33.1M |
| Citigroup | ADD | +88.9% | $2.1M | $1.5M |
| New York State Common Retirement Fund | ADD | +25.9% | $2.6M | $1.4M |
| Farther Finance Advisors | ADD | +87.4% | $69.0K | $47.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -39.5% | $3.5M | $232.0K |
Key Facts
- 5 institutional buyers vs 1 seller in 2026-Q2
- Net institutional accumulation of $78.1M
- Massachusetts Financial Services opened a new $42.1M position
- Jennison Associates opened a new $33.1M position
- Only seller was Assenagon Asset Management trimming $232K (value increased due to price appreciation)
- No insider open-market buying corroborates the institutional signal (confluence score 21/100, divergent)
Financial Impact
5 institutions accumulated $78.1M in new holdings while 1 seller trimmed $232K (net +$77.9M)
Risk Factors
- 45-day reporting lag — positions may have been unwound since quarter-end
- No insider buying corroboration (confluence score 21/100, divergent)
- 13F data does not capture short positions or options — cluster signal is one-sided
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-BHE-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 11w ago | Institutional Cluster | $85.41 $70.48 | ▼ −17.48% | ▼ −16.24% | — |
May 15, 2026 23w ago | Insider Cluster | $84.94 $91.31 | ▲ +7.50% | ▲ +5.38% | — |
May 15, 2026 23w ago | Insider Cluster | $84.94 $91.31 | ▲ +7.50% | ▲ +5.38% | — |
May 6, 2026 24w ago | Insider Cluster | $86.60 $88.24 | ▲ +1.89% | ▼ −0.89% | — |
Apr 29, 2026 25w ago | 8-K | $82.05 $84.46 | ▲ +2.94% | ▼ −2.29% | — |
Apr 17, 2026 27w ago | DEFA14A | $65.73 $82.79 | ▲ +25.95% | ▲ +21.75% | — |
Feb 24, 2026 34w ago | 8-K | $60.17 $58.84 | ▼ −2.20% | ▲ +3.03% | — |
US Market Status
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