The cluster is dominated by a single large buyer (Assenagon) whose $44.6M doubling suggests conviction, but the 45-day lag means this Q3-end data may already be stale. Monitor for any Q4 13F filings or insider Form 4 activity to confirm the thesis remains active.
Executive Summary
Five institutional buyers accumulated $54.4M in CRL during Q3 2026, led by Assenagon Asset Management's $44.6M doubling and Td Waterhouse Canada's new $8.9M position, while Assetmark exited 76% of its stake ($9.6M sold). The cluster is strongly bullish in net dollar terms, driven by active asset managers, though the 45-day reporting lag means positions may have shifted since quarter-end.
Key Financial Metrics
Institutional Positions
Net institutional flow: $54.4M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +221.5% | $58.6M | $44.6M |
| Td Waterhouse Canada | DOUBLED | +69088.9% | $8.9M | $8.9M |
| Farther Finance Advisors | DOUBLED | +136.1% | $682.0K | $460.0K |
| Concurrent Investment Advisors | ADD | +61.4% | $737.0K | $386.0K |
| Mather Group | DOUBLED | +115.4% | $50.0K | $32.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assetmark | NEAR_EXIT | -76.1% | $13.9M | -$9.6M |
Key Facts
- 5 institutional buyers added $54.4M net, 1 seller reduced by $9.6M
- Assenagon Asset Management doubled its position (+$44.6M) to $58.6M, representing 85% of total buying
- Td Waterhouse Canada initiated a $8.9M position from a near-zero base
- Assetmark reduced holdings by 76% ($9.6M sold), the only seller in the cluster
- All buyers are active asset managers; no passive/index funds in the cluster
Financial Impact
Net institutional accumulation of $54.4M across 5 buyers, with total buyer holdings of $69.0M vs. seller reduction of $9.6M. The largest single move was Assenagon's $44.6M increase.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Single buyer (Assenagon) accounts for 82% of net buying, making the cluster less diversified
- Assetmark's near-exit could signal a contrary view from a sophisticated manager
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-CRL-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | $357.41 | awaiting T+20 | — | — |
Oct 22, 2026 4d ago | 144 | $345.37 | awaiting T+20 | — | — |
Oct 21, 2026 5d ago | Institutional Cluster | $339.66 | awaiting T+20 | — | — |
Sep 24, 2026 4w ago | 8-K | $294.44 $339.66 | ▲ +15.36% | ▲ +15.78% | — |
Aug 27, 2026 8w ago | Insider Cluster | $291.50 $294.59 | ▲ +1.06% | ▲ +1.55% | — |
Aug 20, 2026 9w ago | Insider Cluster | $295.19 $279.01 | ▼ −5.48% | ▼ −6.50% | — |
Aug 13, 2026 10w ago | Insider Cluster | $280.05 $273.11 | ▼ −2.48% | ▼ −0.49% | — |
Aug 11, 2026 10w ago | Insider Cluster | $284.37 $273.00 | ▼ −4.00% | ▼ −2.10% | — |
Aug 10, 2026 11w ago | Insider Cluster | $282.00 $278.35 | ▼ −1.29% | ▼ −0.24% | — |
Aug 5, 2026 11w ago | 8-K | $260.72 $291.76 | ▲ +11.91% | ▲ +12.51% | — |
US Market Status
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