The mixed institutional cluster shows no clear consensus — quant funds (Millennium, D.E. Shaw) and active asset managers (Russell, Nuveen) accumulated aggressively, while mega-passive funds (UBS, State Street) trimmed meaningfully. Monitor next quarter's 13F for follow-through; if the buying managers continue adding, it may signal a value rotation thesis.
Executive Summary
Institutional activity in HCKT was mixed in Q2 2026, with 15 buyers accumulating $14.2M in new positions and 11 sellers reducing holdings by $14.6M. Notable buying by Millennium Management (quant, +$5.1M), Russell Investments (+$4.5M), and Nuveen (+$3.7M) was offset by heavy selling from UBS (-$6.3M), State Street (-$4.4M), and Creative Planning (-$1.7M). The net dollar change is nearly flat, suggesting no dominant directional thesis.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$400.0K
▲ Buyers (15)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Millennium Management | DOUBLED | +153% | $9.8M | $5.1M |
| Russell Investments Group | DOUBLED | +174.3% | $8.0M | $4.5M |
| Nuveen | DOUBLED | +482.5% | $4.6M | $3.7M |
| Fidelity | DOUBLED | +456.1% | $731.0K | $572.0K |
| D.E. Shaw | ADD | +71.1% | $342.0K | $100.0K |
▼ Sellers (11)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| UBS | NEAR_EXIT | -88.4% | $7.0M | -$6.3M |
| State Street | TRIM | -29.2% | $10.6M | -$4.4M |
| Creative Planning | NEAR_EXIT | -88.4% | $1.9M | -$1.7M |
| Quantinno Capital Management | TRIM | -39.7% | $2.6M | -$1.3M |
| Ubs Am, A Distinct Business Unit Of Ubs Asset | NEAR_EXIT | -97.7% | $503.0K | -$494.0K |
Key Facts
- 15 institutional buyers added $14.2M in net new value; 11 sellers reduced positions by $14.6M.
- Millennium Management doubled its stake to 907.7K shares worth $9.8M, the largest buyer by value.
- Russell Investments doubled to 738.5K shares ($8.0M); Nuveen nearly quintupled to 429.2K shares ($4.6M).
- UBS (mega-passive) exited 88.4% of its position, selling $6.3M; State Street trimmed 29.2%, selling $4.4M.
- Creative Planning and Legal & General both executed near-exits, reducing holdings by 88-90%.
- Aggregate buyer value ($23.9M) roughly equals seller value ($14.6M net reduction), indicating a balanced quarter.
Financial Impact
15 institutions accumulated $14.2M in new HCKT positions while 11 institutions reduced holdings by $14.6M, resulting in a net institutional flow of approximately -$0.4M.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end.
- Net institutional flow is essentially flat ($0.4M net selling), limiting directional conviction.
- Passive/index fund selling (UBS, State Street) could reflect rebalancing rather than fundamental concerns.
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-HCKT-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $10.45 $11.85 | ▲ +13.40% | ▲ +13.96% | — |
Mar 20, 2026 31w ago | DEFA14A | $13.43 $13.95 | ▲ +3.87% | ▼ −3.55% | — |
US Market Status
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