The Q2 2026 cluster shows strong passive and active accumulation, but 13F data is 45 days stale. Monitor for any Q3 insider buying or corporate events (earnings, M&A) that could have triggered this buildup. The near-total exit by Allworth Financial warrants watching for any negative thesis that other institutions may have overlooked.
Executive Summary
A significant institutional cluster formed in FBYD during Q2 2026, with 21 buyers accumulating $10.7M in net new holdings versus only 3 sellers trimming $114K. The buying is dominated by mega-passive funds (Geode, Northern Trust, Schwab) and asset managers (Vanguard, BNY Mellon, Citigroup), suggesting broad-based accumulation rather than a single catalyst-driven thesis. The near-total exit by Allworth Financial is a minor contrarian signal but does not offset the overwhelming buying conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: $10.7M
▲ Buyers (21)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Geode | ADD | +39.2% | $10.3M | $4.5M |
| Vanguard Portfolio Management | ADD | +88.2% | $3.5M | $2.0M |
| Northern Trust | ADD | +59.7% | $3.5M | $1.8M |
| Bank Of New York Mellon | DOUBLED | +104.8% | $1.1M | $657.0K |
| Schwab | ADD | +58.7% | $1.3M | $666.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Allworth Financial | NEAR_EXIT | -99.2% | $61.0K | -$61.0K |
| UBS | TRIM | -28.8% | $383.0K | -$37.0K |
| Osaic Holdings | TRIM | -30.9% | $135.0K | -$16.0K |
Key Facts
- 21 institutional buyers vs 3 sellers in Q2 2026
- Net buying of $10.7M across all tracked institutions
- Geode added $4.5M (+39.2% shares), now holds $10.3M
- Vanguard Portfolio Management added $2.0M (+88.2% shares)
- Northern Trust added $1.8M (+59.7% shares)
- Allworth Financial nearly exited (-99.2% shares, -$61K)
- Total institutional holdings grew to $21.0M from $10.3M prior quarter
Financial Impact
21 institutions accumulated $10.7M in net new FBYD positions, while 3 sellers reduced holdings by $114K. Total tracked institutional value rose to $21.0M.
Risk Factors
- 13F data is 45 days stale; positions may have been unwound since quarter-end
- Dominance of mega-passive funds (Geode, Northern Trust) reduces signal strength — may reflect index rebalancing rather than conviction
- Allworth Financial's near-exit suggests at least one informed seller disagrees with the bullish thesis
- Small absolute dollar amounts ($21M total) indicate limited institutional interest overall
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-FBYD-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | SC 13D/A | $8.25 $7.81 | ▲ +5.33% | ▲ +5.19% | — |
Sep 30, 2026 26d ago | SC 13D/A | $8.52 $8.81 | ▼ −3.40% | ▼ −2.10% | — |
Sep 22, 2026 4w ago | Institutional Cluster | $7.00 $8.39 | ▲ +19.86% | ▲ +21.04% | — |
Aug 13, 2026 10w ago | 8-K | $10.24 $10.65 | ▼ −4.00% | ▼ −5.97% | — |
US Market Status
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