The cluster shows a split between small aggressive accumulators and one large seller. Monitor next 13F for whether Fort Washington continues reducing or if the smaller buyers scale further. No insider buying corroboration is present.
Executive Summary
Four smaller asset managers doubled or added to their CARG positions in Q3 2026, while one larger holder trimmed significantly. The net dollar flow is negative ($14.1M sell vs $6.4M buy), but the buyer count and conviction (three DOUBLED positions) suggest selective accumulation by active managers.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$7.7M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | DOUBLED | +107.5% | $48.0K | $23.0K |
| Assenagon Asset Management | DOUBLED | +159.5% | $11.0M | $6.3M |
| Nisa Investment Advisors | ADD | +31.3% | $118.0K | $20.0K |
| Assetmark | DOUBLED | +309.1% | $3.0K | $2.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fort Washington Investment Advisors | TRIM | -32.8% | $36.4M | -$14.1M |
Key Facts
- 4 buyers added $6.4M in new holdings; 1 seller reduced by $14.1M
- Three funds (Farther Finance, Assenagon, Assetmark) doubled their positions
- Largest seller, Fort Washington, trimmed 32.8% of its stake, exiting $14.1M
- All participants are active asset managers — no passive/index funds in the cluster
Financial Impact
Net institutional outflow of $7.7M in Q3 2026 ($6.4M bought vs $14.1M sold), concentrated in one large trim by Fort Washington
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Single large seller ($14.1M) outweighs total buying ($6.4M), creating net bearish dollar flow
- Small fund sizes limit signal strength — the largest buyer (Assenagon) added only $6.3M
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-CARG-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Institutional Cluster | $32.73 | awaiting T+60 | — | — |
Oct 19, 2026 8d ago | Press Release | $31.66 | awaiting T+60 | — | — |
Oct 12, 2026 15d ago | Institutional Cluster | $28.39 | awaiting T+60 | — | — |
Oct 5, 2026 22d ago | Insider Cluster | $28.73 | awaiting T+60 | — | — |
Sep 3, 2026 7w ago | 8-K | $34.23 | awaiting T+60 | — | — |
Aug 18, 2026 10w ago | Insider Cluster | $37.04 | awaiting T+60 | — | — |
Aug 14, 2026 10w ago | Insider Cluster | $35.77 | awaiting T+60 | — | — |
Aug 11, 2026 11w ago | Insider Cluster | $36.88 | awaiting T+60 | — | — |
Jul 2, 2026 16w ago | Insider Cluster | $35.66 $31.16 | ▲ +12.62% | ▲ +14.34% | — |
Jul 2, 2026 16w ago | Insider Cluster | $35.66 $31.16 | ▼ −12.62% | ▼ −14.34% | — |
US Market Status
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