Monitor next 13F filing for unwinding of these positions; the cluster is dominated by passive/mega-passive buyers (Goldman Sachs, UBS, Wells Fargo) which may reflect index rebalancing rather than a fundamental thesis. The mixed net conviction and small absolute dollar amounts relative to COFS market cap suggest limited near-term price impact.
Executive Summary
An institutional cluster for COFS shows 14 buyers accumulating $9.6M in net new positions versus 7 sellers trimming $942K, resulting in a mixed net conviction. The buying is dominated by asset managers and mega-passive firms (American Century, Goldman Sachs, Nuveen) doubling or adding positions, while selling is limited to small trims by quant and asset manager firms (Point72, Trexquant). The aggregate $8.7M net inflow suggests modest institutional interest, but the 45-day reporting lag and mixed direction limit the signal's strength.
Key Financial Metrics
Institutional Positions
Net institutional flow: $8.7M
▲ Buyers (14)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| American Century Companies | DOUBLED | +104.9% | $6.6M | $3.9M |
| Goldman Sachs | ADD | +25.7% | $6.8M | $2.3M |
| Nuveen | ADD | +67.2% | $3.2M | $1.6M |
▼ Sellers (7)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Trexquant Investment | TRIM | -67.4% | $884.0K | -$536.0K |
| Sei Investments | TRIM | -38.7% | $545.0K | -$141.0K |
| Stifel Financial | TRIM | -44% | $311.0K | -$101.0K |
Key Facts
- 14 institutional buyers added $9.6M in net new holdings, bringing total buyer holdings to $19.6M
- 7 institutional sellers reduced holdings by $942K in aggregate
- Top buyers: American Century DOUBLED (+104.9%, $3.9M increase), Goldman Sachs ADD (+25.7%, $2.3M increase), Nuveen ADD (+67.2%, $1.6M increase)
- Top sellers: Trexquant TRIM (-67.4%, -$536K), SEI Investments TRIM (-38.7%, -$141K), Stifel Financial TRIM (-44.0%, -$101K)
- Net directional flow is mixed — buying is larger in dollar terms but selling includes a quant (Point72) trimming
- 13F data is as of quarter-end 2026-Q2, approximately 45+ days stale
Financial Impact
14 institutions accumulated $9.6M in new positions while 7 reduced holdings by $942K, for a net inflow of approximately $8.7M
Risk Factors
- 13F data is stale by 45+ days; positions may have been reversed
- Mixed net conviction (14 buyers vs 7 sellers) reduces signal clarity
- No insider buying corroboration provided — institutional signal is standalone
- Small absolute dollar values ($19.6M total buyer holdings) limit market impact
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-COFS-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $32.87 | awaiting T+60 | — | — |
Jul 24, 2026 13w ago | 8-K | $32.72 $32.84 | ▼ −0.37% | ▲ +2.92% | — |
Jun 22, 2026 18w ago | EFFECT | $32.08 $33.80 | ▲ +5.36% | ▲ +3.62% | — |
May 22, 2026 22w ago | S-3 | $31.44 $34.03 | ▲ +8.24% | ▲ +5.05% | — |
May 20, 2026 22w ago | 8-K | $31.35 $34.38 | ▲ +9.67% | ▲ +4.66% | — |
Apr 24, 2026 26w ago | 8-K | $30.78 $34.59 | ▼ −12.38% | ▼ −7.30% | — |
Mar 6, 2026 33w ago | Insider Cluster | $27.98 $31.00 | ▲ +10.78% | ▼ −2.00% | — |
Mar 6, 2026 33w ago | Insider Cluster | $27.98 $31.00 | ▲ +10.78% | ▼ −2.00% | — |
Feb 27, 2026 34w ago | Insider Cluster | $28.32 $31.87 | ▲ +12.53% | ▲ +3.15% | — |
Feb 27, 2026 34w ago | Insider Cluster | $28.32 $31.87 | ▲ +12.53% | ▲ +3.15% | — |
US Market Status
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