The divergence between large passive sellers (BlackRock, UBS, BofA) and active/quant buyers (Susquehanna, RenTech, Victory Capital) suggests a battle between index-rebalancing-driven selling and conviction-based accumulation. Monitor next quarter's 13F for whether the buying cluster expands or reverses.
Executive Summary
Institutional activity in GDYN for 2026-Q2 shows a mixed picture: 22 buyers added $11.8M in new holdings (led by Morgan Stanley, Goldman Sachs, and Susquehanna), while 22 sellers reduced positions by $37.3M (dominated by BlackRock trimming $29.2M and D.E. Shaw cutting $3.6M). The net selling pressure of $25.5M suggests a cautious or profit-taking stance among large passive managers, partially offset by selective accumulation from active quant and asset managers.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$25.5M
▲ Buyers (22)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Fidelity | DOUBLED | +1665% | $1.1M | $1.1M |
| Morgan Stanley | ADD | +29.5% | $13.8M | $3.1M |
| Goldman Sachs | ADD | +57.5% | $6.9M | $2.5M |
| Wells Fargo | DOUBLED | +118% | $317.0K | $171.0K |
| Northern Trust | ADD | +29.8% | $5.6M | $1.3M |
| RenTech | ADD | +78.8% | $335.0K | $147.0K |
| Susquehanna International Group | DOUBLED | +402.4% | $3.4M | $2.7M |
| Farther Finance Advisors | ADD | +95.6% | $4.0K | $2.0K |
| Victory Capital Management | ADD | +34.5% | $2.3M | $595.0K |
| Lpl Financial | ADD | +26.3% | $984.0K | $202.0K |
▼ Sellers (22)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| BofA | TRIM | -34.9% | $2.1M | -$730.0K |
| UBS | TRIM | -49.9% | $2.8M | -$1.4M |
| D.E. Shaw | TRIM | -53.2% | $6.7M | -$3.6M |
| Walleye Capital | TRIM | -68.3% | $1.0M | -$688.0K |
| Bank Of New York Mellon | TRIM | -36.8% | $2.2M | -$822.0K |
| Fifth Third Bancorp | TRIM | -41.2% | $193.0K | -$80.0K |
| Pnc Financial Services Group | TRIM | -57.8% | $47.0K | -$27.0K |
| BlackRock | TRIM | -43.3% | $67.2M | -$29.2M |
| Legal & General Group | TRIM | -64.3% | $854.0K | -$550.0K |
| Barclays | TRIM | -49.4% | $320.0K | -$159.0K |
Key Facts
- 22 buyers added $11.8M in aggregate; 22 sellers reduced $37.3M in aggregate
- BlackRock trimmed 5.11M shares ($29.2M), the largest single seller
- Morgan Stanley added 552K shares ($3.1M), the largest buyer by value
- Susquehanna International Group nearly quintupled its position (+402.4%, $2.7M added)
- D.E. Shaw cut 630.4K shares ($3.6M), a 53.2% reduction
- Net institutional outflow of approximately $25.5M
Financial Impact
Net institutional selling of ~$25.5M, with total buyer-side additions of $11.8M and seller-side reductions of $37.3M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- BlackRock's large trim could reflect index rebalancing rather than fundamental view
- Net selling pressure may weigh on near-term price if passive outflows continue
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-GDYN-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | 144 | $7.95 | awaiting T+20 | — | — |
Sep 22, 2026 4w ago | Institutional Cluster | $7.78 $8.22 | ▲ +5.66% | ▲ +6.22% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $6.43 $5.92 | ▼ −7.93% | ▼ −9.82% | — |
Mar 5, 2026 33w ago | 8-K | $6.65 $5.69 | ▼ −14.44% | ▼ −12.39% | — |
US Market Status
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