The cluster is directionally mixed but net positive, with active asset managers driving accumulation. Monitor for any catalyst (earnings, guidance, or portfolio transactions) that could validate the buying thesis; the Nuveen trim of $17.6M is a notable counterweight.
Executive Summary
A mixed institutional cluster in FCPT for 2026-Q2 shows 9 buyers accumulating $61.2M in net new positions (led by Ameriprise Financial, Goldman Sachs, and UBS AM with large adds/doubles) against 5 sellers reducing by $21.8M (led by Nuveen trimming $17.6M). The buying is dominated by active asset managers, suggesting a shared thesis around FCPT's net-lease REIT value, but the absence of insider buying (confluence score 36/100, institutions_only) weakens conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: $39.4M
▲ Buyers (9)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Ameriprise Financial | DOUBLED | +239.9% | $28.6M | $20.5M |
| Goldman Sachs | ADD | +66.1% | $48.6M | $20.4M |
| Ubs Am, A Distinct Business Unit Of Ubs Asset | DOUBLED | +15777.1% | $16.1M | $16.0M |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Nuveen | TRIM | -38.3% | $49.0M | -$17.6M |
| Raymond James Financial | TRIM | -56% | $6.6M | -$3.6M |
| Susquehanna International Group | TRIM | -49.1% | $829.0K | -$390.9K |
Key Facts
- 9 institutional buyers added $61.2M in net new positions during 2026-Q2
- 5 institutional sellers reduced holdings by $21.8M, led by Nuveen trimming $17.6M
- Top buyers: Ameriprise Financial (+$20.5M, DOUBLED), Goldman Sachs (+$20.4M, ADD), UBS AM (+$16.0M, DOUBLED)
- No insider open-market buying detected in the window (confluence score 36/100)
Financial Impact
9 institutional buyers accumulated $105.6M in holdings (net change +$61.2M) while 5 sellers reduced by $21.8M, for a net institutional inflow of approximately $39.4M
Risk Factors
- 45-day 13F reporting lag means positions may have been unwound since quarter-end
- No insider buying to corroborate institutional thesis
- Nuveen's large trim ($17.6M) suggests a competing bearish thesis from a major holder
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-FCPT-2026-Q2 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 8-K | $21.80 $22.05 | ▲ +1.15% | ▲ +2.16% | — |
Aug 21, 2026 9w ago | Institutional Cluster | $25.23 $25.23 | · 0.00% | ▼ −0.47% | — |
Jun 1, 2026 21w ago | 8-K | $24.28 $24.70 | ▲ +1.73% | ▲ +4.48% | — |
Apr 29, 2026 25w ago | 8-K | $25.57 $25.47 | ▼ −0.39% | ▼ −2.12% | — |
Mar 6, 2026 33w ago | Insider Cluster | $25.67 $25.63 | ▼ −0.16% | ▲ +1.21% | — |
US Market Status
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