The cluster is unanimously bullish from active managers, but the 45-day 13F lag means these positions may already be unwound. Monitor for any Q3 13F filings or insider buying to confirm conviction. The lack of insider buying and poor historical T+20 performance on this ticker suggest waiting for additional confirmation before trading.
Executive Summary
Three active asset managers collectively doubled their COHR positions in Q2 2026, adding $84.8M in new exposure, while one manager trimmed a small position. The cluster is dominated by conviction buyers, but the 45-day reporting lag and historically poor T+20 performance on this ticker (avg -5.45%) temper the signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $84.8M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Congress Asset Management | DOUBLED | +15798.5% | $75.3M | $75.0M |
| Assenagon Asset Management | DOUBLED | +278.2% | $5.6M | $4.7M |
| Qrg Capital Management | DOUBLED | +118.6% | $7.1M | $5.1M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Davenport & Co | TRIM | -26.6% | — | -$1.1M |
Key Facts
- 3 active managers doubled positions: Congress Asset Management ($75M), Qrg Capital Management ($7.1M), Assenagon Asset Management ($5.6M)
- Total net institutional buying: $84.8M vs $1.1M in selling
- No insider open-market buying corroborates the cluster (confluence score 9/100, divergent)
- Historical reports on COHR show avg T+20 return of -5.45% with 43% win rate
Financial Impact
3 institutions accumulated $84.8M in new COHR positions during Q2 2026, while 1 seller reduced holdings by $1.1M
Risk Factors
- 13F reporting lag: positions are as of June 30, 2026 — may have been exited since
- No insider buying to corroborate the institutional thesis
- Historical COHR reports show negative average T+20 returns (-5.45%)
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-COHR-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Insider Cluster | $289.93 $300.60 | ▲ +3.68% | ▲ +1.12% | — |
Sep 11, 2026 21d ago | Insider Cluster | $305.37 $317.36 | ▲ +3.93% | ▲ +4.15% | — |
Sep 4, 2026 28d ago | Insider Cluster | $281.86 $266.50 | ▼ −5.45% | ▼ −4.24% | — |
Sep 3, 2026 29d ago | Insider Cluster | $264.41 $305.37 | ▲ +15.49% | ▲ +16.64% | — |
Sep 3, 2026 29d ago | Insider Cluster | $264.41 $305.37 | ▼ −15.49% | ▼ −16.64% | — |
Aug 31, 2026 4w ago | 8-K | $277.83 $301.88 | ▲ +8.66% | ▲ +8.80% | — |
Jul 15, 2026 11w ago | Institutional Cluster | $299.38 $312.19 | ▲ +4.28% | ▲ +5.26% | — |
Jun 20, 2026 14w ago | Institutional Cluster | $425.48 $380.56 | ▼ −10.56% | ▼ −8.49% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $363.58 $378.85 | ▲ +4.20% | ▲ +3.77% | — |
Apr 28, 2026 22w ago | 8-K | $304.93 $344.67 | ▲ +13.03% | ▲ +9.92% | — |
US Market Status
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