The divergence between a large holder's near-exit and smaller managers' additions suggests uncertainty about GS's trajectory post-earnings. Monitor Q4 2026 13F filings to see if the selling trend broadens or if buyers increase conviction.
Executive Summary
Q3 2026 13F filings for Goldman Sachs show mixed institutional activity: three asset managers (Assenagon, Concurrent, Abn Amro) added $27.8M in net new holdings, while two sellers (Temasek and Ninety One) reduced positions by $240.3M, led by Ninety One's near-exit of a $236.2M stake. The cluster follows a strong Q3 earnings beat on October 13, but the dominant selling by a large holder suggests divergent views on valuation or outlook.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$212.5M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +192.4% | $33.0M | $20.3M |
| Concurrent Investment Advisors | ADD | +30.3% | $33.4M | $4.6M |
| Abn Amro Investment Solutions | ADD | +27.7% | $23.6M | $2.8M |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Temasek Holdings (Private) | TRIM | -67.3% | $9.3M | -$6.6M |
| Ninety One Uk | NEAR_EXIT | -98.8% | $236.2M | -$233.7M |
Key Facts
- Three institutional buyers added $27.8M in net new GS positions during Q3 2026
- Two institutional sellers reduced GS holdings by $240.3M, with Ninety One UK exiting 98.8% of its stake
- Net institutional flow was negative $212.5M for the quarter
- The cluster follows GS Q3 2026 earnings beat (EPS $17.01 vs consensus $15.70) reported on October 13
- No open-market insider buying corroborates the institutional buying cluster
Financial Impact
Net institutional selling of $212.5M during Q3 2026, with total buying of $27.8M and total selling of $240.3M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- The cluster is dominated by one large seller (Ninety One), which may reflect fund-specific rebalancing rather than a bearish thesis on GS
- No insider buying to corroborate the accumulation signal
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-GS-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 today | Insider Cluster | $928.00 | awaiting T+1 | awaiting T+1 | No price |
Oct 28, 2026 1d ago | Institutional Cluster | $925.17 $927.73 | ▲ +0.28% | ▲ +0.66% | No price |
Oct 27, 2026 2d ago | Insider Cluster | $925.17 $927.73 | ▲ +0.28% | ▲ +0.66% | No price |
Oct 27, 2026 2d ago | 144 | $925.17 $927.73 | ▲ +0.28% | ▲ +0.66% | No price |
Oct 23, 2026 6d ago | ANALYST-UPGRADE | $893.28 $911.77 | ▲ +2.07% | ▲ +1.51% | No price |
Oct 22, 2026 7d ago | 144 | $875.68 $893.28 | ▲ +2.01% | ▲ +1.30% | No price |
Oct 14, 2026 15d ago | Court Ruling | $891.28 $881.26 | ▼ −1.12% | ▼ −0.02% | No price |
Oct 13, 2026 16d ago | 8-K | $891.91 $878.72 | ▼ −1.48% | ▼ −0.40% | No price |
Oct 8, 2026 21d ago | ANALYST-UPGRADE | $882.59 $895.32 | ▲ +1.44% | ▲ +0.84% | No price |
Oct 1, 2026 28d ago | DEFA14A | $902.56 $893.46 | ▼ −1.01% | ▼ −1.68% | No price |
US Market Status
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