The cluster is too small in dollar terms to drive price action. Monitor next 13F for larger funds entering or exiting; the Wealth Enhancement trim is notable for its size relative to the buyers' additions.
Executive Summary
Three asset managers (Farther Finance, Davenport & Co, Nisa Investment Advisors) accumulated $653K in CPB during Q3 2026, while Wealth Enhancement Advisory Services trimmed $1.6M. The net buying is modest in absolute terms, and the 45-day reporting lag limits timeliness. The cluster is small and dominated by active managers, but the aggregate dollar scale is too low to signal a strong institutional conviction shift.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$947.0K
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | DOUBLED | +114.6% | $643.0K | $306.0K |
| Davenport & Co | ADD | +25.2% | $338.0K | $35.0K |
| Nisa Investment Advisors | ADD | +47.9% | $1.2M | $312.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Wealth Enhancement Advisory Services | TRIM | -39.5% | $3.5M | -$1.6M |
Key Facts
- 3 buyers added $653K in aggregate; 1 seller reduced by $1.6M
- Farther Finance Advisors doubled its position (+114.6%, $306K increase)
- Nisa Investment Advisors added 47.9% ($312K increase)
- Wealth Enhancement Advisory Services trimmed 39.5% ($1.6M reduction)
- All four funds are asset managers (no activist, quant, or passive index funds)
- 13F data is as of quarter-end with a 45-day reporting lag
Financial Impact
Net institutional buying of $653K vs selling of $1.6M; net negative $947K across the cluster
Risk Factors
- 13F data is stale (45-day lag); positions may have been reversed since quarter-end
- Net selling by the largest participant ($1.6M trim) outweighs buying conviction
- No passive/index fund activity — cluster lacks broad market signal
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-CPB-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Institutional Cluster | $19.56 | awaiting T+20 | — | — |
Oct 7, 2026 20d ago | DEF 14A | $18.90 | awaiting T+20 | — | — |
Oct 5, 2026 21d ago | 8-K | $19.00 | awaiting T+20 | — | — |
Sep 3, 2026 7w ago | 8-K | $22.13 $19.62 | ▲ +11.32% | ▲ +10.13% | — |
Jul 29, 2026 12w ago | Institutional Cluster | $22.08 $23.28 | ▲ +5.43% | ▲ +1.47% | — |
Jun 17, 2026 18w ago | 8-K | $21.15 $22.65 | ▲ +7.09% | ▲ +6.56% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $22.73 $21.47 | ▼ −5.54% | ▼ −7.43% | — |
Jun 8, 2026 20w ago | 8-K | $21.49 $22.66 | ▼ −5.44% | ▼ −3.81% | — |
US Market Status
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