Monitor for insider buying or a fundamental catalyst (earnings, production update) to confirm the thesis before acting. The heavy State Street doubling is likely passive index rebalancing, not active conviction.
Executive Summary
A strong institutional accumulation cluster formed in DEC during 2026-Q2, with 10 buyers adding $27.3M in net new positions versus 3 sellers reducing by $22.7M. The buying is dominated by active asset managers (Dimensional, Russell, Victory, Panagora) and a major passive player (State Street doubling to $43.4M), while the selling is concentrated in mega-passive firms (JPMorgan, Morgan Stanley) and Aberdeen Group trimming.
Key Financial Metrics
Institutional Positions
Net institutional flow: $4.6M
▲ Buyers (10)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Street | DOUBLED | +152.4% | $43.4M | $21.8M |
| Dimensional Fund Advisors | DOUBLED | +282.5% | $5.0M | $3.4M |
| Victory Capital Management | ADD | +88.7% | $3.7M | $1.2M |
| Russell Investments Group | DOUBLED | +188.3% | $823.0K | $464.0K |
| Zurcher Kantonalbank | ADD | +92.5% | $554.0K | $192.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Aberdeen Group | TRIM | -50.4% | $14.2M | -$8.6M |
| Morgan Stanley | TRIM | -33.6% | $15.4M | -$7.3M |
| JPMorgan | NEAR_EXIT | -86% | $7.6M | -$6.8M |
Key Facts
- 10 institutional buyers added $27.3M in net new positions during 2026-Q2
- State Street doubled its stake to $43.4M (+$21.8M), the largest single buyer
- 3 sellers reduced by $22.7M, led by Aberdeen Group trimming $8.6M and Morgan Stanley trimming $7.3M
- Dimensional Fund Advisors nearly tripled its position (+$3.4M), Russell Investments doubled (+$464K)
- No open-market insider buying corroborates the institutional cluster (institutions-only signal)
Financial Impact
10 institutional buyers accumulated $55.5M in total holdings (net change +$27.3M) while 3 sellers reduced by $22.7M, resulting in net institutional inflow of approximately $4.6M
Risk Factors
- No insider buying to corroborate the institutional thesis — the cluster is institutions-only
- 13F data is 45+ days stale; positions may have already been unwound
- Heavy selling by JPMorgan, Morgan Stanley, and Aberdeen (combined $22.7M) partially offsets the buying
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-DEC-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 7w ago | 8-K | $15.72 $15.43 | ▼ −1.84% | ▼ −1.46% | — |
Sep 2, 2026 7w ago | Press Release | $15.72 $15.43 | ▼ −1.84% | ▼ −1.46% | — |
Aug 15, 2026 10w ago | Institutional Cluster | $14.39 $14.40 | ▲ +0.07% | ▲ +0.75% | — |
Aug 14, 2026 10w ago | 8-K | $14.32 $14.39 | ▲ +0.49% | ▲ +0.96% | — |
Jul 29, 2026 12w ago | Press Release | $13.06 $13.46 | ▲ +3.06% | ▲ +2.36% | — |
May 26, 2026 21w ago | 3 | $14.26 $14.54 | ▲ +1.99% | ▲ +1.44% | — |
May 21, 2026 22w ago | 8-K | $15.19 $14.81 | ▼ −2.45% | ▼ −3.04% | — |
May 19, 2026 22w ago | 8-K | $16.78 $16.36 | ▼ −2.50% | ▼ −3.54% | — |
May 6, 2026 24w ago | 8-K | $15.57 $15.65 | ▲ +0.51% | ▼ −0.32% | — |
May 6, 2026 24w ago | Press Release | $15.57 $15.65 | ▲ +0.51% | ▼ −0.32% | — |
US Market Status
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