The cluster is directionally bullish but dominated by passive/index rebalancing (~96% of net buying from BlackRock, State Street, Geode), which weakens the signal's conviction. Active manager adds (Citigroup, BNY Mellon, Deutsche Bank) are small in absolute dollar terms. Monitor next 10-Q for fundamental catalysts before acting.
Executive Summary
A bullish institutional cluster emerged in FCCO during 2026-Q2, with 9 buyers accumulating $14.1M in net new positions and zero sellers. The buying is dominated by mega-passive managers (BlackRock, State Street, Geode) but includes notable active adds from Citigroup, Bank of New York Mellon, and Deutsche Bank.
Key Financial Metrics
Institutional Positions
Net institutional flow: $14.1M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| BlackRock | ADD | +57.1% | $22.5M | $9.7M |
| Geode | ADD | +28.6% | $7.5M | $2.3M |
| State Street | ADD | +29.4% | $4.8M | $1.5M |
| Bank Of New York Mellon | ADD | +27.3% | $796.0K | $237.0K |
| Citigroup | DOUBLED | +1431.8% | $183.0K | $172.0K |
Key Facts
- 9 institutional buyers, 0 sellers in 2026-Q2
- Net buying of $14.1M across all tracked positions
- BlackRock added $9.7M (57.1% increase) to become top holder at $22.5M
- Citigroup nearly 15x'd its position (365 → 5,592 shares)
- Passive/index funds (BlackRock, State Street, Geode) account for ~$13.5M of the $14.1M net buying
- No insider open-market buying corroborates the cluster
Financial Impact
9 institutions added $14.1M in net new positions; total tracked holdings now $36.2M
Risk Factors
- Cluster dominated by passive/index rebalancing, not active conviction
- No insider buying to corroborate the institutional thesis
- 13F data is 45+ days stale; positions may have been unwound
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-FCCO-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 8-K | $32.99 $33.10 | ▲ +0.33% | ▲ +0.86% | — |
Oct 21, 2026 6d ago | Press Release | $32.77 $32.99 | ▲ +0.67% | ▲ +1.85% | — |
Oct 6, 2026 21d ago | 3 | $32.33 $32.44 | ▲ +0.34% | ▲ +0.76% | — |
Oct 6, 2026 21d ago | 3 | $32.33 $32.44 | ▲ +0.34% | ▲ +0.76% | — |
Oct 2, 2026 25d ago | 8-K | $32.67 $32.58 | ▼ −0.28% | ▼ −0.95% | — |
Oct 1, 2026 26d ago | 8-K | $32.47 $32.67 | ▲ +0.62% | ▼ −0.12% | — |
Sep 16, 2026 5w ago | 8-K | $33.60 $33.80 | ▲ +0.60% | ▼ −0.54% | — |
Aug 26, 2026 8w ago | Insider Cluster | $33.40 $33.63 | ▲ +0.69% | ▲ +0.92% | — |
Aug 19, 2026 9w ago | 8-K | $33.80 $33.96 | ▲ +0.47% | ▲ +1.31% | — |
Aug 12, 2026 10w ago | Institutional Cluster | $34.16 $34.58 | ▲ +1.23% | ▲ +0.53% | — |
US Market Status
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