The cluster shows mixed signals with a slight net buying bias, but passive funds dominate. The 45-day lag means positions may have changed. Monitor for near-term catalysts (earnings, homebuilding data) that could align institutional conviction.
Executive Summary
BZH saw mixed institutional activity in Q3 2025, with 4 buyers (net +$12.4M) and 4 sellers (net -$5.2M), resulting in a net inflow of ~$7.2M. Buying was concentrated in mega-passive funds (Morgan Stanley, BofA) and a value fund (Tweedy Browne doubling), while selling included mega-passive (UBS, Fidelity) and quant (Two Sigma). The 45-day reporting lag reduces timeliness, and the calibration data suggests negative expected alpha for this segment.
Key Financial Metrics
Institutional Positions
Net institutional flow: $7.2M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Tweedy Browne | DOUBLED | +106.2% | $671.0K | $375.0K |
| Citadel | ADD | +48.3% | $586.0K | $226.0K |
| Morgan Stanley | ADD | +99.8% | $16.7M | $9.1M |
| BofA | ADD | +90.6% | $5.2M | $2.7M |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fidelity | TRIM | -71.7% | $325.0K | -$223.8K |
| UBS | TRIM | -49.2% | $8.2M | -$3.6M |
| Two Sigma | TRIM | -73.5% | $1.0M | -$722.6K |
| Ubs Am, A Distinct Business Un | TRIM | -44.6% | $1.7M | -$662.1K |
Key Facts
- 4 buyers (net +$12.4M) and 4 sellers (net -$5.2M) for aggregate net +$7.2M
- Buyers: Tweedy Browne (DOUBLED), Citadel (ADD), Morgan Stanley (ADD), BofA (ADD)
- Sellers: Fidelity (TRIM), UBS (TRIM), Two Sigma (TRIM), UBS AM (TRIM)
- Active value fund Tweedy Browne doubled its small position; passive flows dominated overall
Financial Impact
Net institutional inflow of ~$7.2M, with buying adding $12.4M and selling reducing $5.2M
Risk Factors
- 13F data is 45+ days old; current positions may differ
- Passive buying may reflect index rebalancing, not active conviction
- Negative expected alpha per segment calibration (-2.04%)
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-BZH-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | DEFM14A | $33.35 $33.36 | ▲ +0.03% | ▼ −2.08% | — |
Aug 15, 2026 6w ago | Institutional Cluster | $33.17 $33.11 | ▼ −0.18% | ▲ +1.01% | — |
Aug 10, 2026 7w ago | DEFA14A | $33.17 $33.11 | ▼ −0.18% | ▲ +0.22% | — |
Aug 7, 2026 8w ago | DEFA14A | $33.18 $33.10 | ▼ −0.24% | ▼ −0.64% | — |
Aug 7, 2026 8w ago | 8-K | $33.18 $33.10 | ▼ −0.24% | ▼ −0.64% | — |
Aug 7, 2026 8w ago | 8-K | $33.18 $33.10 | ▼ −0.24% | ▼ −0.64% | — |
Jun 23, 2026 14w ago | 8-K | $27.68 $27.54 | ▼ −0.51% | ▼ −2.21% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $27.65 $26.86 | ▼ −2.86% | ▼ −3.29% | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access