The mixed cluster with no insider buying suggests caution despite net accumulation. Monitor next earnings for fundamental catalyst — the prior neutral reports' +13% T+20 rally may have front-run this 13F data. A pullback toward recent lows could offer a better entry if institutional conviction holds.
Executive Summary
A mixed institutional cluster in DV for 2026-Q2 shows 10 buyers accumulating $65.4M (led by First Trust Advisors doubling to $32.8M and Geode adding $13.7M) while 11 sellers trimmed $23.0M (led by Amundi's near-exit of $10.8M and Assenagon trimming $9.6M). The net $42.4M buying is dominated by active asset managers, but the absence of insider buying (confluence score 36/100, institutions-only) weakens conviction. The stock has rallied significantly since prior neutral reports (+13.3% avg T+20), suggesting the cluster may already be partially priced in.
Key Financial Metrics
Institutional Positions
Net institutional flow: $42.4M
▲ Buyers (10)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| First Trust Advisors | DOUBLED | +140.1% | $32.8M | $20.9M |
| Geode | ADD | +38.4% | $37.3M | $13.7M |
| Fort Washington Investment Advisors | ADD | +38% | $33.0M | $12.0M |
| First Eagle Investment Management | ADD | +82.7% | $12.6M | $6.5M |
| Nuveen | ADD | +90% | $7.8M | $4.2M |
▼ Sellers (11)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Amundi | NEAR_EXIT | -88.9% | $12.4M | -$10.8M |
| Assenagon Asset Management | TRIM | -46.7% | $24.4M | -$9.6M |
| State Of New Jersey Common Pension Fund D | TRIM | -49.3% | $2.2M | -$939.0K |
| Wealth Enhancement Advisory Services | TRIM | -51.5% | $1.4M | -$528.4K |
| State Board Of Administration Of Florida | TRIM | -60.3% | $904.0K | -$494.5K |
Key Facts
- 10 institutional buyers added $65.4M in new positions, led by First Trust Advisors (DOUBLED to $32.8M) and Geode (ADD to $37.3M)
- 11 institutional sellers reduced holdings by $23.0M, led by Amundi (NEAR_EXIT, -$10.8M) and Assenagon (TRIM, -$9.6M)
- Net institutional buying of ~$42.4M, but no insider open-market buying corroborates the signal
- Cluster is dominated by active asset managers (9 of 10 buyers, 11 of 11 sellers), not passive/index funds
- Historical calibration shows score-6/7 filings in this segment have ~43-55% observed up-move probability at T+20
Financial Impact
10 institutional buyers accumulated $65.4M in new positions while 11 sellers reduced holdings by $23.0M, resulting in net buying of approximately $42.4M
Risk Factors
- 13F data is 45+ days stale; positions may have already been unwound
- No insider buying corroboration weakens the cluster signal
- Historical calibration shows score-6/7 filings have only ~43-55% probability of positive T+20 return in this segment
- 11 sellers trimming $23M suggests significant distribution alongside accumulation
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-DV-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 25, 2026 5w ago | DEFA14A | $13.30 $13.37 | ▲ +0.53% | ▲ +0.30% | — |
Aug 12, 2026 7w ago | Institutional Cluster | $13.29 $13.37 | ▲ +0.60% | ▲ +2.50% | — |
Aug 10, 2026 7w ago | DEFA14A | $13.22 $13.35 | ▲ +0.98% | ▲ +1.90% | — |
Aug 10, 2026 7w ago | 8-K | $13.22 $13.35 | ▲ +0.98% | ▲ +1.90% | — |
Apr 7, 2026 25w ago | DEFA14A | $10.09 $11.46 | ▲ +13.58% | ▲ +5.03% | — |
Apr 7, 2026 25w ago | Press Release | $10.08 $11.40 | ▲ +13.10% | ▲ +3.31% | — |
US Market Status
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