The unanimous selling by active managers, especially the near-total exit by TD Waterhouse Canada, signals deteriorating conviction. Monitor upcoming earnings for potential fundamental weakness that may have driven these reductions.
Executive Summary
Four institutional asset managers trimmed or nearly exited their positions in Dycom Industries during Q3 2026, with aggregate net selling of $11.5M. The most significant move was TD Waterhouse Canada reducing its stake by 99.9%, exiting a $9.7M position. This broad-based selling by active managers suggests a shared negative thesis on the stock.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$11.5M
▼ Sellers (4)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Td Waterhouse Canada | NEAR_EXIT | -99.9% | $9.7M | -$9.7M |
| Nisa Investment Advisors | TRIM | -46.9% | $574.0K | -$412.0K |
| Assenagon Asset Management | TRIM | -33.2% | $1.5M | -$969.0K |
| Concurrent Investment Advisors | TRIM | -25% | $757.0K | -$455.0K |
Key Facts
- 4 institutional sellers, 0 buyers in Q3 2026
- Aggregate net selling of $11.5M
- TD Waterhouse Canada exited a $9.7M position (99.9% reduction)
- Assenagon, Concurrent, and Nisa each trimmed 25-47% of their holdings
- All sellers are active asset managers, not passive/index funds
Financial Impact
4 institutions sold a net $11.5M in DY shares during Q3 2026, with TD Waterhouse Canada alone accounting for $9.7M of the selling via a near-full exit.
Risk Factors
- 13F data is 45+ days stale; positions may have been rebuilt since quarter-end
- Small sample of 4 sellers limits statistical significance
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-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Institutional Cluster | $237.45 $225.16 | ▲ +5.18% | ▲ +3.99% | — |
Oct 7, 2026 19d ago | SC 13G | $277.21 $269.23 | ▼ −2.88% | ▼ −3.48% | — |
Sep 9, 2026 6w ago | Insider Buy | $295.93 $307.47 | ▲ +3.90% | ▲ +3.05% | — |
Sep 1, 2026 7w ago | Insider Buy | $296.98 $295.56 | ▼ −0.48% | ▼ −1.52% | — |
Aug 26, 2026 8w ago | 8-K | $310.91 $308.01 | ▼ −0.93% | ▼ −1.59% | — |
Aug 25, 2026 8w ago | 8-K | $351.80 $310.91 | ▼ −11.62% | ▼ −11.65% | — |
Aug 14, 2026 10w ago | Press Release | $419.07 | awaiting T+1 | — | — |
Jul 25, 2026 13w ago | Institutional Cluster | $424.21 $401.87 | ▼ −5.27% | ▼ −5.51% | — |
Jun 1, 2026 21w ago | 8-K | $493.89 $485.97 | ▼ −1.60% | ▼ −1.75% | — |
May 27, 2026 21w ago | 8-K | $529.13 $535.20 | ▲ +1.15% | ▲ +0.60% | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers