The cluster is one-sided bullish but stale (Q3 2026 quarter-end). Monitor Q4 2026 13F filings to see if these positions were maintained or reversed. The lack of insider buying reduces conviction in the signal.
Executive Summary
Four institutional investors increased their CMI positions in Q3 2026, led by Assenagon Asset Management which nearly 10x'd its stake to $216.9M. No sellers were present in the cluster. The aggregate net buying of $188.3M is a bullish signal, though 13F data is stale and insider activity does not corroborate the move.
Key Financial Metrics
Institutional Positions
Net institutional flow: $188.3M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +890.3% | $216.9M | $186.7M |
| Daiwa Securities Group | ADD | +41.9% | $20.8M | $561.0K |
| Abn Amro Investment Solutions | ADD | +52.5% | $8.9M | $843.0K |
| Exchange Traded Concepts | ADD | +43.9% | $4.0M | $164.0K |
Key Facts
- 4 institutional buyers, 0 sellers in Q3 2026 13F cluster
- Assenagon Asset Management increased position by 890.3% to $216.9M
- Aggregate net buying of $188.3M across all positions
- Insider trading confluence score of 17/100 (divergent), no open-market insider buying
Financial Impact
4 institutions accumulated $250.6M in current holdings, net increase of $188.3M. Assenagon alone added $186.7M.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Insider trading confluence is divergent (score 17/100), no insider buying to corroborate institutional thesis
- Only one fund (Assenagon) accounts for the vast majority of the net buying; the other three adds are small in dollar terms
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-CMI-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Institutional Cluster | $518.03 $500.09 | ▼ −3.46% | ▼ −1.69% | No price |
Aug 4, 2026 12w ago | 8-K | $635.96 $650.25 | ▲ +2.25% | ▲ +2.45% | No price |
May 14, 2026 24w ago | Insider Cluster | $715.24 $696.02 | ▼ −2.69% | ▼ −1.46% | No price |
May 8, 2026 25w ago | Insider Cluster | $679.55 $701.56 | ▲ +3.24% | ▲ +3.01% | No price |
May 8, 2026 25w ago | Insider Cluster | $679.55 $701.56 | ▲ +3.24% | ▲ +3.01% | No price |
May 8, 2026 25w ago | Insider Cluster | $677.23 $701.56 | ▲ +3.59% | ▲ +3.36% | No price |
May 8, 2026 25w ago | Insider Cluster | $677.23 $701.56 | ▲ +3.59% | ▲ +3.36% | No price |
May 8, 2026 25w ago | Insider Cluster | $677.23 $701.56 | ▲ +3.59% | ▲ +3.36% | No price |
May 8, 2026 25w ago | Insider Cluster | $677.23 $701.56 | ▲ +3.59% | ▲ +3.36% | No price |
May 8, 2026 25w ago | Insider Cluster | $677.23 $701.56 | ▲ +3.59% | ▲ +3.36% | No price |
US Market Status
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