The cluster shows no dominant directional signal — Robeco's conviction buy is counterbalanced by Assenagon's and Vontobel's significant reductions. With no insider buying confluence and the 45-day reporting lag, this cluster alone does not warrant a directional read. Monitor next 13F for whether Robeco maintained or added to its position.
Executive Summary
A mixed institutional cluster in Elevance Health (ELV) for Q3 2026 shows four asset managers adding $70.0M in positions, led by Robeco Institutional Asset Management doubling its stake to $129.4M, while two sellers reduced by $73.8M, including Assenagon trimming nearly half its position. The net change is roughly flat, suggesting no clear consensus thesis among active managers, consistent with the stale 45-day lag and the stock's mixed historical signal performance.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$3.8M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Robeco Institutional Asset Management B.v. | ADD | +94% | $129.4M | $63.1M |
| Wealth Enhancement Advisory Services | ADD | +34.3% | $17.3M | $3.6M |
| Concurrent Investment Advisors | DOUBLED | +161.1% | $3.8M | $2.3M |
| Farther Finance Advisors | ADD | +27.1% | $4.6M | $997.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -49.1% | $115.8M | -$56.5M |
| Vontobel Holding | NEAR_EXIT | -83.4% | $20.7M | -$17.3M |
Key Facts
- 4 buyers added $70.0M in aggregate; 2 sellers reduced by $73.8M
- Robeco Institutional Asset Management nearly doubled its stake to $129.4M (+$63.1M)
- Assenagon Asset Management trimmed 49.1% of its position, selling $56.5M
- Vontobel Holding executed a near-exit, reducing 83.4% of its stake
- All participants are asset managers; no activist, quant, or family office funds present
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
Financial Impact
Net institutional activity was roughly flat: $70.0M in buying vs $73.8M in selling, for a net outflow of $3.8M. The largest single move was Robeco's $63.1M addition, offset by Assenagon's $56.5M reduction.
Risk Factors
- 13F data is stale (45+ days old); current positions may differ materially
- No activist or high-conviction fund types present; all participants are traditional asset managers
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-ELV-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 144 | $439.95 $431.32 | ▼ −1.96% | ▼ −2.67% | — |
Oct 21, 2026 5d ago | 8-K | $434.13 $445.28 | ▲ +2.57% | ▲ +3.75% | — |
Oct 20, 2026 6d ago | Institutional Cluster | $434.13 $445.28 | ▲ +2.57% | ▲ +3.75% | — |
Sep 10, 2026 6w ago | 8-K | $416.54 $418.72 | ▲ +0.52% | ▼ −0.33% | — |
Aug 27, 2026 8w ago | Institutional Cluster | $399.11 $394.43 | ▼ −1.17% | ▼ −0.95% | — |
Aug 20, 2026 9w ago | Court Ruling | $400.54 $402.63 | ▲ +0.52% | ▲ +0.82% | — |
Aug 17, 2026 10w ago | Court Ruling | $396.54 $396.72 | ▲ +0.05% | ▼ −0.16% | — |
Jul 23, 2026 13w ago | GOVT-CONTRACT | $376.04 $376.72 | ▲ +0.18% | ▲ +0.16% | — |
Jul 17, 2026 14w ago | Insider Cluster | $373.11 $382.23 | ▲ +2.44% | ▲ +2.61% | — |
Jul 15, 2026 14w ago | 8-K | $390.33 $372.85 | ▼ −4.48% | ▼ −3.94% | — |
US Market Status
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