The cluster is dominated by a single large trim from Wealth Enhancement Advisory Services, which dwarfs the small buying from three other managers. With no hedge fund or activist involvement and a 45-day lag, this is a low-conviction signal. Monitor next 13F cycle to see if the selling trend broadens or reverses.
Executive Summary
Three small asset managers added to BPOP positions in Q3 2026, while one larger manager trimmed significantly. The net dollar flow is heavily negative (-$7.7M) due to the single large trim, but the buying cluster shows conviction from smaller active managers. The signal is weak given the small absolute dollar amounts on the buy side and the 45-day reporting lag.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$7.7M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | ADD | +86.7% | $163.0K | $71.0K |
| Concurrent Investment Advisors | ADD | +36.3% | $460.0K | $104.0K |
| Nisa Investment Advisors | DOUBLED | +102.3% | $290.0K | $139.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Wealth Enhancement Advisory Services | TRIM | -49% | $14.2M | -$8.0M |
Key Facts
- 3 small asset managers added BPOP positions totaling $913K in current holdings, up $313K from prior quarter
- 1 asset manager trimmed 49% of its BPOP position, reducing value by $8.0M to $6.2M
- Net aggregate dollar change across all 4 filers is -$7.7M (sellers outweigh buyers 8:1 by dollar value)
- All four filers are asset managers, not hedge funds or activists — no strong directional thesis signal
Financial Impact
Net institutional flow of -$7.7M: $313K in buying from 3 small managers vs $8.0M in selling from one larger manager
Risk Factors
- 13F data is 45+ days stale — positions may have already been adjusted
- Small absolute dollar amounts on buy side ($913K total) limit signal reliability
- Single large seller dominates the net flow — not a broad-based institutional consensus
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-BPOP-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $159.24 | awaiting T+20 | — | — |
Oct 22, 2026 5d ago | 8-K | $157.64 | awaiting T+20 | — | — |
Oct 20, 2026 6d ago | Institutional Cluster | $162.25 | awaiting T+20 | — | — |
Aug 20, 2026 9w ago | 8-K | $168.22 $162.03 | ▼ −3.68% | ▼ −3.68% | — |
Aug 11, 2026 11w ago | Insider Cluster | $174.84 $164.80 | ▲ +5.74% | ▲ +4.68% | — |
Aug 11, 2026 11w ago | Insider Cluster | $174.84 $164.80 | ▲ +5.74% | ▲ +4.68% | — |
Aug 6, 2026 11w ago | Insider Cluster | $176.14 $171.33 | ▼ −2.73% | ▼ −3.33% | — |
Jul 23, 2026 13w ago | 8-K | $170.88 $168.22 | ▼ −1.56% | ▼ −4.86% | — |
Apr 30, 2026 25w ago | Insider Cluster | $149.62 $149.70 | ▲ +0.05% | ▼ −4.91% | — |
Mar 24, 2026 30w ago | DEFA14A | $132.60 $148.30 | ▲ +11.84% | ▲ +2.94% | — |
US Market Status
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