The cluster is heavily weighted toward mega-passive funds (BlackRock, State Street, Vanguard) which may reflect index rebalancing or factor-based buying rather than fundamental conviction. The active manager signal is modest — only D.E. Shaw ($1.4M) and Arrowstreet ($2.2M remaining) have material active positions. Monitor next 13F filings for whether these positions were maintained or reversed after quarter-end.
Executive Summary
A strong institutional cluster formed in Civeo Corp during Q2 2026, with 10 buyers accumulating $27.2M in net new positions versus 4 sellers reducing by $4.1M. The buying is dominated by mega-passive funds (BlackRock, State Street, Vanguard) doubling or initiating large positions, alongside quant fund D.E. Shaw adding significantly. The net $23.1M inflow into a small-cap stock suggests a coordinated rebalancing or sector rotation into energy/lodging services, though the 45-day reporting lag means positions may have shifted since quarter-end.
Key Financial Metrics
Institutional Positions
Net institutional flow: $23.1M
▲ Buyers (10)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| BlackRock | DOUBLED | +19252.8% | $20.2M | $20.1M |
| State Street | DOUBLED | +937.4% | $3.4M | $3.2M |
| Vanguard Portfolio Management | DOUBLED | +592.3% | $2.9M | $2.5M |
| D.E. Shaw | ADD | +64.6% | $1.4M | $730.0K |
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Goldman Sachs | TRIM | -61.7% | $5.6M | -$2.8M |
| Arrowstreet Capital, Limited Partnership | TRIM | -50.8% | $3.3M | -$1.2M |
| Barclays | TRIM | -68.6% | $238.0K | -$139.0K |
Key Facts
- 10 institutional buyers added $27.2M in net new positions; 4 sellers reduced by $4.1M
- BlackRock doubled its stake by 19,253% to 576.7K shares worth $20.2M, the largest single position
- State Street doubled holdings to 97.5K shares ($3.4M); Vanguard doubled to 81.5K shares ($2.9M)
- D.E. Shaw added 64.6% to 38.6K shares ($1.4M), the largest active manager buyer
- Goldman Sachs trimmed 61.7% of its position, selling $2.8M worth — the largest seller
- Arrowstreet Capital trimmed 50.8%, selling $1.2M worth
- All 4 sellers were trims, not full exits, suggesting partial profit-taking rather than thesis abandonment
Financial Impact
10 institutions accumulated $27.2M in new positions while 4 reduced holdings by $4.1M, for a net institutional inflow of approximately $23.1M into CVEO during Q2 2026
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Cluster dominated by passive/index funds (BlackRock, State Street, Vanguard, JPMorgan, Wells Fargo) — signal may be mechanical rebalancing, not fundamental conviction
- Only one quant fund (D.E. Shaw) and no activist or value-oriented funds are among the buyers
- Goldman Sachs and Arrowstreet — two of the larger holders — trimmed significantly, creating a mixed 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-CVEO-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $34.09 $28.17 | ▼ −17.37% | ▼ −16.81% | — |
Jul 30, 2026 12w ago | 8-K | $32.01 $33.75 | ▲ +5.44% | ▲ +1.47% | — |
Apr 28, 2026 25w ago | 8-K | $31.22 $34.95 | ▲ +11.95% | ▲ +5.90% | — |
US Market Status
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