The cluster is dominated by active managers accumulating, particularly Artemis (a meaningful $32.8M position). Monitor upcoming 13F filings for Q4 to see if these positions were maintained or reversed, and watch for any copper price or production catalysts that could explain the shared thesis.
Executive Summary
Three institutional buyers accumulated $18.8M in Ero Copper during Q3 2026, led by Artemis Investment Management adding $15.1M (+34.3%) and Td Waterhouse Canada nearly 10x-ing its stake. One seller, Assenagon Asset Management, exited 94.9% of its position for $9.0M. The cluster is net bullish with active asset managers driving the accumulation, though the 45-day reporting lag means positions may have shifted since quarter-end.
Key Financial Metrics
Institutional Positions
Net institutional flow: $9.8M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Artemis Investment Management | ADD | +34.3% | $32.8M | $15.1M |
| Td Waterhouse Canada | DOUBLED | +881.8% | $4.0M | $3.7M |
| Farther Finance Advisors | DOUBLED | +191.7% | $13.0K | $10.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | NEAR_EXIT | -94.9% | $9.6M | -$9.0M |
Key Facts
- 3 buyers added $18.8M in net new value; 1 seller reduced by $9.0M
- Artemis Investment Management added $15.1M (+34.3%), now holding $32.8M
- Td Waterhouse Canada increased stake by 881.8% to $4.0M
- Assenagon Asset Management exited 94.9% of its position, selling $9.0M
- All three buyers are active asset managers, not passive index funds
Financial Impact
Net institutional buying of $18.8M vs selling of $9.0M, for a net inflow of approximately $9.8M during Q3 2026
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Copper price volatility could reverse the thesis driving accumulation
- Single large seller (Assenagon) exited nearly completely, suggesting some institutional caution
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-ERO-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | Institutional Cluster | $34.43 $32.90 | ▼ −4.44% | ▼ −4.78% | — |
Oct 1, 2026 25d ago | 6-K | $37.91 $38.44 | ▲ +1.40% | ▲ +0.72% | — |
Oct 1, 2026 25d ago | Press Release | $37.91 $38.44 | ▲ +1.40% | ▲ +0.72% | — |
Sep 24, 2026 4w ago | 6-K | $37.87 $37.41 | ▼ −1.21% | ▼ −0.47% | — |
Aug 5, 2026 11w ago | 6-K | $31.10 $34.31 | ▲ +10.32% | ▲ +9.71% | — |
Aug 5, 2026 11w ago | Press Release | $31.10 $34.31 | ▲ +10.32% | ▲ +9.71% | — |
Jul 2, 2026 16w ago | 6-K | $26.21 $26.40 | ▲ +0.72% | ▼ −0.15% | — |
Jul 2, 2026 16w ago | Press Release | $26.21 $26.40 | ▲ +0.72% | ▼ −0.15% | — |
Jun 30, 2026 17w ago | 6-K | $26.75 $25.72 | ▼ −3.85% | ▼ −3.72% | — |
Jun 29, 2026 17w ago | Press Release | $26.75 $25.72 | ▼ −3.85% | ▼ −3.72% | — |
US Market Status
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