The mixed institutional cluster reflects divergent views after Q3 earnings: some managers doubled down on the turnaround narrative (mid-single-digit revenue growth, 15% margins in 2027), while others exited or trimmed on the sharp free cash flow decline. Watch Q4 2026 results for confirmation of the CEO's guidance; the lack of insider buying suggests management is not signaling conviction.
Executive Summary
Institutional activity in Halliburton during Q3 2026 was mixed: four asset managers (led by Assenagon) added $72.4M in holdings, while three sellers (led by Robeco) reduced by $84.8M, for a net outflow of $12.4M. The cluster follows Halliburton's Q3 earnings report showing declining EPS and free cash flow, and the absence of insider buying corroboration weakens the bullish signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$12.4M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +936.1% | $74.7M | $67.0M |
| Fjarde Ap-Fonden /Fourth Swedish National | DOUBLED | +220.9% | $5.5M | $3.6M |
| Bank Julius Baer & Co. Ltd, Zurich | DOUBLED | +103% | $1.0M | $493.0K |
| Abn Amro Investment Solutions | ADD | +52.5% | $4.2M | $1.2M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Robeco Institutional Asset Management B.v. | TRIM | -40% | $125.7M | -$55.0M |
| Ninety One Uk | NEAR_EXIT | -97% | $22.9M | -$22.2M |
| Exchange Traded Concepts | NEAR_EXIT | -94.7% | $8.0M | -$7.6M |
Key Facts
- 4 institutional buyers added $72.4M in net new holdings, led by Assenagon Asset Management (DOUBLED, +$67.0M to $74.7M).
- 3 institutional sellers reduced by $84.8M, led by Robeco Institutional Asset Management (TRIM, -$55.0M to $70.6M).
- Net institutional outflow of $12.4M across the cluster.
- Q3 2026 earnings (filed Oct 20) showed adjusted EPS of $0.60, down 6.3% sequentially, and free cash flow plunging to $156M from $668M.
- Insider buying score is 9/100 (divergent), with zero open-market insider purchases.
Financial Impact
Net institutional selling of $12.4M in Q3 2026, with total buying of $85.3M and total selling of $84.8M.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end.
- Q3 earnings showed operating margin compression and a severe free cash flow drop, which may continue.
- No insider buying to corroborate the institutional buying thesis.
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-HAL-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 today | SC 13G | $36.13 | awaiting T+5 | awaiting T+5 | No price |
Oct 29, 2026 1d ago | Institutional Cluster | $35.90 | awaiting T+5 | awaiting T+5 | No price |
Oct 20, 2026 10d ago | 3 | $33.59 $35.62 | ▲ +6.04% | ▲ +5.96% | No price |
Oct 20, 2026 10d ago | 8-K | $33.59 $35.62 | ▼ −6.04% | ▼ −5.96% | No price |
Oct 15, 2026 15d ago | 8-K | $33.50 $34.92 | ▲ +4.24% | ▲ +4.67% | No price |
Sep 16, 2026 6w ago | 8-K | $34.03 $32.76 | ▼ −3.73% | ▼ −4.33% | No price |
Aug 20, 2026 10w ago | Insider Cluster | $35.34 $36.18 | ▲ +2.38% | ▲ +1.90% | No price |
Aug 19, 2026 10w ago | Insider Cluster | $35.02 $34.44 | ▼ −1.66% | ▼ −1.27% | No price |
Jul 21, 2026 14w ago | 8-K | $33.19 $32.13 | ▼ −3.19% | ▼ −1.97% | No price |
Jun 29, 2026 17w ago | 8-K | $34.09 $33.00 | ▼ −3.20% | ▼ −4.58% | No price |
US Market Status
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