The cluster is dominated by a single large seller, making the signal less about a coordinated thesis and more about one manager's conviction change. Monitor for further 13F filings to see if the selling trend broadens or if the smaller accumulators increase their stakes. The 45-day reporting lag means these positions may already be stale.
Executive Summary
A mixed institutional cluster in EPAM Systems shows small asset managers accumulating modest positions while two larger institutional holders substantially reduced their stakes. Assenagon Asset Management executed a near-exit, selling $19.6M of its $23.2M position, overwhelming the $1.4M in net buying from four smaller firms. The net conviction is mixed, with the selling side dominating in dollar terms.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$18.4M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Wealth Enhancement Advisory Services | DOUBLED | +146.3% | $2.0M | $1.3M |
| Nisa Investment Advisors | ADD | +31.4% | $77.0K | $34.0K |
| Assetmark | DOUBLED | +800% | $975.00 | $896.00 |
| Hb Wealth Management | DOUBLED | +202.6% | $100.0K | $76.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | NEAR_EXIT | -88.7% | $23.2M | -$19.6M |
| Robeco Institutional Asset Management B.v. | TRIM | -32.3% | $2.1M | -$162.0K |
Key Facts
- 4 buyers (net +$1.4M) vs 2 sellers (net -$19.8M); aggregate net selling of ~$18.4M
- Assenagon Asset Management near-exited: sold 88.7% of its stake, reducing $23.2M to $3.6M
- Robeco Institutional Asset Management trimmed 32.3% of its position, removing $162K
- Largest buyer: Wealth Enhancement Advisory Services doubled its position (+146.3%), adding $1.3M to reach $2.0M
- All participants are asset managers; no activist, quant, or passive/index funds detected
Financial Impact
Net institutional selling of approximately $18.4M, driven by Assenagon's $19.6M near-exit, partially offset by $1.4M in buying from four smaller asset managers
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound or added to since quarter-end
- Single large seller (Assenagon) drives the net negative — not a broad consensus sell signal
- Small buyer positions are trivial relative to EPAM's market cap, limiting their signaling value
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-EPAM-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $136.25 | awaiting T+20 | awaiting T+20 | No price |
Oct 2, 2026 25d ago | Press Release | $109.95 | awaiting T+20 | awaiting T+20 | No price |
Aug 5, 2026 11w ago | Institutional Cluster | $109.87 $117.20 | ▼ −6.67% | ▼ −7.27% | No price |
Jul 6, 2026 16w ago | Press Release | $89.55 $107.26 | ▲ +19.78% | ▲ +18.44% | No price |
Apr 30, 2026 25w ago | Insider Cluster | $113.06 $101.43 | ▼ −10.29% | ▼ −15.25% | No price |
Apr 15, 2026 27w ago | DEFA14A | $126.59 $90.39 | ▼ −28.60% | ▼ −34.41% | No price |
Mar 5, 2026 33w ago | 8-K | $144.28 $137.76 | ▼ −4.52% | ▼ −0.73% | No price |
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