The strong institutional accumulation, particularly the new $12.8M position from Mirae Asset, suggests conviction in Dycom's infrastructure-driven growth story. However, the 45-day 13F lag means these positions were set at Q2-end (likely June 30) and may have been adjusted since. Monitor for any insider buying (currently absent) and upcoming earnings for confirmation. The 63% historical win rate on DY reports with +4.42% avg T+20 return supports a positive bias, but the lack of insider corroboration tempers conviction.
Executive Summary
Six institutional buyers accumulated $19.6M in DY during 2026-Q2, led by a new $12.8M position from Mirae Asset Global Investments and a $4.1M add by Police & Firemen's Retirement System. The cluster is dominated by active asset managers with strong conviction (one doubled, one new), while only one small seller trimmed. This signals a shared bullish thesis on Dycom's infrastructure spending tailwinds, though the 45-day reporting lag means positions may have shifted since quarter-end and no insider buying corroborates the move. The historical win rate on DY reports is 63% with +4.42% avg T+20 return, supporting a moderately bullish read.
Key Financial Metrics
Institutional Positions
Net institutional flow: $19.6M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Mirae Asset Global Investments Co. | NEW | +100% | $12.8M | $12.8M |
| Police & Firemen's Retirement System Of New | ADD | +69% | $6.8M | $4.1M |
| Assenagon Asset Management | DOUBLED | +357.5% | $1.5M | $1.3M |
| Gateway Investment Advisers | ADD | +74.7% | $1.8M | $1.1M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Qrg Capital Management | TRIM | -73.9% | $759.0K | -$463.5K |
Key Facts
- 6 institutional buyers vs 1 seller in 2026-Q2
- Net institutional accumulation of $19.6M
- Mirae Asset Global Investments opened a new $12.8M position (largest buyer)
- Police & Firemen's Retirement System added $4.1M (+69% increase)
- Assenagon Asset Management more than quadrupled its position (+357.5%)
- Only one seller (Qrg Capital Management) trimmed $464K (-73.9%)
- No open-market insider buying in the same window (confluence score 34/100, institutions-only signal)
- 95% of analysts rate DY as Buy/Strong Buy
Financial Impact
6 institutions accumulated $19.6M in net new positions during 2026-Q2, with total buyer holdings reaching $23.6M vs. $296K in remaining seller holdings
Risk Factors
- 45-day reporting lag: positions may have been unwound since quarter-end
- No insider buying to corroborate institutional thesis
- Historical high-score reports on DY (score 7-8) have underperformed with avg T+20 alpha of -4.8% to -5.8%
- Infrastructure spending cycle may be peaking or subject to political/regulatory delays
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-DY-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 23d ago | Insider Buy | $290.49 $287.38 | ▼ −1.07% | ▼ −0.41% | — |
Sep 1, 2026 4w ago | Insider Buy | $296.98 $295.93 | ▼ −0.35% | ▲ +0.60% | — |
Aug 26, 2026 5w ago | 8-K | $310.91 $296.98 | ▼ −4.48% | ▼ −4.36% | — |
Aug 25, 2026 5w ago | 8-K | $351.80 $287.30 | ▼ −18.33% | ▼ −17.80% | — |
Aug 14, 2026 7w ago | Press Release | $419.07 $392.95 | ▲ +6.23% | ▲ +4.86% | — |
Jul 25, 2026 9w ago | Institutional Cluster | $424.21 $401.07 | ▼ −5.45% | ▼ −6.53% | — |
Jun 1, 2026 17w ago | 8-K | $493.89 $466.28 | ▼ −5.59% | ▼ −2.84% | — |
May 27, 2026 18w ago | 8-K | $529.13 $484.11 | ▼ −8.51% | ▼ −8.98% | — |
May 27, 2026 18w ago | Press Release | $529.13 $485.97 | ▼ −8.16% | ▼ −9.36% | — |
May 15, 2026 20w ago | Press Release | $437.37 $411.20 | ▼ −5.98% | ▼ −6.95% | — |
US Market Status
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