The buying is concentrated in mega-passive managers and quant funds, while selling is also from passive trims and quant exits. The near-zero net flow suggests the stock is in a holding pattern — no catalyst has emerged to shift institutional consensus. Monitor for a catalyst (earnings, guidance change, or M&A) that could break this stalemate.
Executive Summary
Institutional activity in GTLS during Q2 2026 was mixed, with 35 buyers accumulating $457.1M and 41 sellers reducing by $446.2M. The buying was dominated by mega-passive funds (JPMorgan, Morgan Stanley, BofA) and quant funds (Millennium, D.E. Shaw), while selling was led by UBS ($336.7M trim) and Geode ($61.8M trim). The near-equal net dollar flow suggests no strong directional conviction from the institutional base, consistent with a stock in transition.
Key Financial Metrics
Key Facts
- 35 institutions added $457.1M in GTLS positions during Q2 2026
- 41 institutions reduced positions by $446.2M, nearly offsetting buying
- JPMorgan doubled its stake (+169.3% shares, +$216.9M) to $342.8M
- Millennium added 46.9% (+$102.5M) to a $314.3M position
- UBS trimmed 70.5% of its stake (-$336.7M), the largest single largest sell-side move
- Net institutional flow was essentially flat (+$10.9M) across 76 tracked funds
Financial Impact
Aggregate buying of $457.1M vs selling of $446.2M — net inflow of only $10.9M across 76 institutions. The largest single move was JPMorgan's $216.9M increase, offset by UBS's $336.7M decrease.
Risk Factors
- 13F data is 45 days stale; positions may have been unwound since quarter-end
- Net flow is essentially flat — no directional signal from this cluster alone
- Large passive buys (JPMorgan) and sells (UBS) may reflect index rebalancing, not active conviction
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-GTLS-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 12, 2026 15d ago | Institutional Cluster | No price | awaiting T+20 | awaiting T+20 | No price |
Jul 29, 2026 12w ago | 15-12G | No price | awaiting T+20 | awaiting T+20 | No price |
Jul 16, 2026 14w ago | 25-NSE | $209.97 | awaiting T+20 | awaiting T+20 | No price |
Jul 16, 2026 14w ago | 8-K | $209.97 | awaiting T+20 | awaiting T+20 | No price |
Jun 22, 2026 18w ago | 8-K | $208.98 $209.90 | ▲ +0.44% | ▲ +0.59% | No price |
Jun 11, 2026 19w ago | Institutional Cluster | $206.49 $209.60 | ▲ +1.51% | ▼ −0.38% | No price |
Feb 27, 2026 34w ago | Press Release | $207.06 $206.80 | ▼ −0.13% | ▲ +7.81% | No price |
US Market Status
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