The mega-passive buying (Vanguard, Fidelity, Geode) likely reflects index rebalancing or passive inflows rather than active conviction, while the quant selling (Millennium, D.E. Shaw) suggests profit-taking or thesis abandonment. Monitor next quarter's 13F to see if the passive buying persists or reverses — if active managers join the buying, the signal strengthens.
Executive Summary
A strong institutional cluster formed in BMNR during Q2 2026, with 50 buyers accumulating $213.1M in net new positions versus 20 sellers reducing by $94.0M. The buying is dominated by mega-passive index funds (Vanguard, Fidelity, Geode, Northern Trust) while the selling is concentrated among quant funds (Millennium exiting $57.3M, D.E. Shaw trimming). The net $119.1M inflow suggests broad institutional conviction, though the passive-heavy buyer mix tempers the signal's edge.
Key Financial Metrics
Institutional Positions
Net institutional flow: $119.1M
▲ Buyers (50)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Vanguard | ADD | +62.7% | $687.1M | $59.6M |
| Fidelity | DOUBLED | +1280.8% | $102.5M | $91.5M |
| Geode | ADD | +76.6% | $165.6M | $51.3M |
| Northern Trust | DOUBLED | +163.6% | $35.4M | $15.5M |
▼ Sellers (20)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Millennium Management | EXIT | -100% | $57.3M | -$57.3M |
| Vontobel Holding | NEAR_EXIT | -94.2% | $16.6M | -$16.0M |
| Citigroup | NEAR_EXIT | -76.6% | $11.9M | -$10.1M |
| D.E. Shaw | TRIM | -50% | $12.2M | -$8.1M |
Key Facts
- 50 institutional buyers added $213.1M in net new positions vs 20 sellers reducing by $94.0M
- Vanguard added 19.90M shares (+62.7%), now holding $687.1M — the largest buyer
- Fidelity DOUBLED its position, adding 7.14M shares (+1280.8%) worth $91.5M
- Millennium Management fully exited its $57.3M position — the largest seller
- D.E. Shaw trimmed 50% of its stake, selling $8.1M worth
- Net aggregate inflow of $119.1M across all tracked institutions
Financial Impact
Net institutional inflow of $119.1M (buyers added $213.1M, sellers reduced $94.0M) in Q2 2026
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Passive/index fund dominance (Vanguard, Fidelity, Geode) weakens the signal's edge — these may be mechanical rebalancing flows
- Quant fund exits (Millennium, D.E. Shaw) could indicate informed selling ahead of negative catalysts
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-BMNR-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 8-K | $21.81 | awaiting T+20 | — | — |
Oct 21, 2026 5d ago | Institutional Cluster | $22.50 | awaiting T+20 | — | — |
Oct 19, 2026 8d ago | 8-K | $21.57 | awaiting T+20 | — | — |
Oct 13, 2026 14d ago | 8-K | $23.49 | awaiting T+20 | — | — |
Oct 7, 2026 20d ago | 8-K | $24.66 | awaiting T+20 | — | — |
Oct 5, 2026 22d ago | 8-K | $26.79 | awaiting T+20 | — | — |
Sep 30, 2026 27d ago | 8-K | $26.43 | awaiting T+20 | — | — |
Sep 28, 2026 29d ago | 8-K | $26.84 $21.34 | ▼ −20.51% | ▼ −20.48% | — |
Sep 22, 2026 4w ago | Institutional Cluster | $28.76 $22.82 | ▼ −20.65% | ▼ −20.09% | — |
Sep 21, 2026 5w ago | 8-K | $28.25 $21.57 | ▼ −23.65% | ▼ −22.74% | — |
US Market Status
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