The heavy selling by Assenagon (a large, active manager) contrasts with small additions by three minor funds. Monitor upcoming 13F filings for further unwinding or reversal, and watch for insider buying to corroborate any bullish thesis.
Executive Summary
Three small asset managers added ETSY positions in Q3 2026, but two larger holders sold heavily, including a near-exit by Assenagon Asset Management that removed $109.8M in value. The cluster is mixed and dominated by small buyers and one large seller, with no insider buying to corroborate the accumulation.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$110.4M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Exchange Traded Concepts | DOUBLED | +180.1% | $509.0K | $317.0K |
| Farther Finance Advisors | ADD | +57.3% | $346.0K | $114.0K |
| Nisa Investment Advisors | ADD | +33.3% | $341.0K | $72.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | NEAR_EXIT | -89.8% | $121.5M | -$109.8M |
| Pensiondanmark Pensionsforsikringsaktieselskab | TRIM | -70.2% | $1.5M | -$1.1M |
Key Facts
- 3 buyers added $503K in net new value, with Exchange Traded Concepts doubling its position (+180.1% shares).
- 2 sellers reduced holdings by $110.9M, led by Assenagon Asset Management exiting 89.8% of its position ($109.8M).
- No insider buying (confluence score 0/100) weakens the bullish signal from the small buyers.
- Etsy reported Q3 2026 revenue of $692.5M (+10.9% YoY) and raised EBITDA margin guidance, but CFO departure announced.
- 13F data is 45+ days stale; positions may have changed since quarter-end.
Financial Impact
Three small asset managers accumulated $503K in net new positions while two larger holders sold $110.9M, for a net institutional outflow of approximately $110.4M.
Risk Factors
- 13F data is stale (45-day lag); the cluster may have already been unwound.
- No insider buying to support the accumulation signal.
- CFO departure adds management uncertainty despite solid earnings.
Market Snapshot
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-ETSY-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 today | 144 | $90.51 | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 today | 144 | $91.98 | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 today | 144 | $92.51 | awaiting T+1 | awaiting T+1 | No price |
Oct 28, 2026 1d ago | Institutional Cluster | $92.35 $91.59 | ▼ −0.82% | ▼ −0.44% | No price |
Oct 28, 2026 1d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 28, 2026 1d ago | Press Release | $92.35 $91.59 | ▼ −0.82% | ▼ −0.44% | No price |
Oct 19, 2026 11d ago | Insider Cluster | $87.41 $87.23 | ▼ −0.21% | ▼ −0.73% | No price |
Oct 14, 2026 15d ago | Press Release | $89.18 $85.14 | ▼ −4.53% | ▼ −3.42% | No price |
Oct 13, 2026 16d ago | 144 | $82.93 $89.18 | ▲ +7.54% | ▲ +7.25% | No price |
Oct 8, 2026 21d ago | 144 | $76.71 $76.93 | ▼ −0.29% | ▼ −0.35% | No price |
US Market Status
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