The cluster is small in absolute dollar terms (net ~$13.6M) and stale by 45+ days. Monitor upcoming 13F filings for continuation or reversal of this buying pattern, and watch for any insider Form 4 activity to corroborate the thesis.
Executive Summary
Three institutional asset managers accumulated $13.7M in FCNCA during Q3 2026, led by a Swedish pension fund and two smaller active managers, while one European manager trimmed a negligible $96K position.
Key Financial Metrics
Institutional Positions
Net institutional flow: $13.6M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Fjarde Ap-Fonden /Fourth Swedish National | ADD | +92.4% | $14.3M | $6.8M |
| Assenagon Asset Management | DOUBLED | +511.2% | $7.2M | $6.0M |
| Wealth Enhancement Advisory Services | ADD | +35.2% | $3.9M | $982.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Vontobel Holding | TRIM | -25% | $375.0K | -$96.0K |
Key Facts
- 3 buyers added $13.7M in net new holdings; 1 seller trimmed $96K
- Fjarde Ap-Fonden (Swedish pension fund) added 92.4% to a $14.3M position
- Assenagon Asset Management more than quintupled its stake (+511.2%) to $7.2M
- Vontobel Holding trimmed a tiny $278K position by 25%
- All three buyers are active asset managers, not passive index funds
Financial Impact
3 institutions accumulated $13.7M in new positions while 1 reduced holdings by $96K; net institutional inflow of approximately $13.6M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- Small absolute dollar cluster relative to FCNCA's market cap limits signal strength
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-FCNCA-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $2,375.84 $2,345.61 | ▼ −1.27% | ▼ −1.98% | — |
Oct 23, 2026 3d ago | Press Release | $2,375.84 $2,345.61 | ▼ −1.27% | ▼ −1.98% | — |
Oct 16, 2026 10d ago | Institutional Cluster | $2,096.87 $2,120.39 | ▲ +1.12% | ▲ +0.79% | — |
Sep 30, 2026 26d ago | Press Release | $2,073.50 | awaiting T+1 | — | — |
Sep 10, 2026 6w ago | 424B5 | $2,173.00 $2,173.88 | ▲ +0.04% | ▲ +0.49% | — |
Jul 23, 2026 13w ago | 8-K | $2,212.77 $2,160.65 | ▼ −2.36% | ▼ −2.46% | — |
Jun 8, 2026 20w ago | Insider Cluster | $2,100.68 $2,112.87 | ▲ +0.58% | ▲ +2.16% | — |
US Market Status
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