The cluster shows a split between passive accumulators (BofA, Goldman, Lazard) and active/quant sellers (Citadel, Jane Street). With 13F data 45+ days stale, the current positioning is unknown. Monitor upcoming Form 4 insider filings and next quarter's 13F for confirmation of the bull or bear thesis.
Executive Summary
Institutional activity in ELVA during Q2 2026 was mixed: 7 buyers added $9.2M in new positions (led by Lazard, BofA, and Desjardins), while 10 sellers trimmed $2.3M (led by Citadel's near-exit and Jane Street's reduction). The net buying of $6.9M is concentrated among passive mega-funds and a few active managers, but the broader seller count and Citadel's near-exit suggest caution.
Key Financial Metrics
Institutional Positions
Net institutional flow: $6.9M
▲ Buyers (7)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Lazard Asset Management | DOUBLED | +131.1% | $6.1M | $4.1M |
| BofA | DOUBLED | +255.8% | $2.2M | $1.7M |
| Federation Des Caisses Desjardins Du Quebec | DOUBLED | +3564% | $2.1M | $2.1M |
| Goldman Sachs | DOUBLED | +206.8% | $870.0K | $659.0K |
| Morgan Stanley | ADD | +39.4% | $855.0K | $398.0K |
▼ Sellers (10)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Citadel | NEAR_EXIT | -92.6% | $1.2M | -$1.1M |
| Jane Street Group | TRIM | -34.5% | $2.3M | -$275.0K |
| Dimensional Fund Advisors | TRIM | -60.4% | $451.0K | -$210.0K |
| Osaic Holdings | NEAR_EXIT | -78.6% | $248.0K | -$177.0K |
| Balyasny Asset Management | TRIM | -57.5% | $287.0K | -$123.0K |
Key Facts
- 7 institutional buyers added $9.2M in new positions; 10 sellers reduced by $2.3M; net institutional inflow of $6.9M
- Lazard Asset Management doubled its position to $6.1M (largest buyer by value)
- BofA and Goldman Sachs both doubled their holdings; Desjardins increased by 3,564% from a tiny base
- Citadel nearly exited (92.6% reduction, from $1.2M to $123K); Jane Street trimmed 34.5% ($2.3M to $2.0M)
- Buying dominated by passive/mega-passive funds (Morgan Stanley, BofA, Goldman); sellers include active managers and quant funds
Financial Impact
Net institutional inflow of $6.9M (buyers added $9.2M, sellers reduced $2.3M) — modest relative to ELVA's market cap
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- Citadel's near-exit and multiple active manager trims suggest institutional skepticism
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-ELVA-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 6-K | $5.16 | awaiting T+60 | — | — |
Oct 8, 2026 18d ago | 6-K | $5.75 | awaiting T+60 | — | — |
Oct 5, 2026 21d ago | 6-K | $6.36 | awaiting T+60 | — | — |
Sep 22, 2026 4w ago | Institutional Cluster | $6.73 | awaiting T+60 | — | — |
Aug 11, 2026 10w ago | 6-K | $7.33 | awaiting T+60 | — | — |
Aug 6, 2026 11w ago | 6-K | $9.28 | awaiting T+60 | — | — |
Aug 5, 2026 11w ago | 6-K | $9.31 | awaiting T+60 | — | — |
Jul 15, 2026 14w ago | 6-K | $11.76 $5.79 | ▼ −50.77% | ▼ −53.30% | — |
May 27, 2026 21w ago | 6-K | $11.57 $6.68 | ▼ −42.26% | ▼ −44.14% | — |
May 15, 2026 23w ago | 6-K | $9.55 $7.33 | ▼ −23.25% | ▼ −27.76% | — |
US Market Status
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