The cluster is too small in dollar terms and too stale to drive a trading decision. Monitor next 13F filings for continuation of selling or any new large-position entries.
Executive Summary
Three small institutional holders trimmed their HEI positions in Q3 2026, with aggregate selling of $1.6M. The moves are modest in scale and involve asset managers, not activist or high-conviction funds.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$1.6M
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fjarde Ap-Fonden /Fourth Swedish National | TRIM | -44% | — | -$1.1M |
| Concurrent Investment Advisors | TRIM | -44.8% | — | -$277.0K |
| Td Waterhouse Canada | TRIM | -33.2% | — | -$163.0K |
Key Facts
- 3 institutional sellers trimmed HEI positions in Q3 2026, with aggregate net selling of $1.6M
- No institutional buyers were identified in the cluster
- Largest seller: Fjarde Ap-Fonden reduced by 44% (2.7K shares, $1.1M value)
- All three sellers are asset managers, not activist or event-driven funds
- 13F data is subject to 45-day reporting lag; positions may have changed since quarter-end
Financial Impact
Three institutions sold a combined $1.6M in HEI shares during Q3 2026, with the largest single sale being $1.1M by Fjarde Ap-Fonden.
Risk Factors
- 13F data is 45+ days stale; the selling may have already reversed
- All sellers are small asset managers; their moves may reflect portfolio rebalancing rather than a fundamental thesis
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-HEI-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | Institutional Cluster | $308.17 $308.79 | ▲ +0.20% | ▲ +0.35% | — |
Oct 13, 2026 14d ago | Insider Cluster | $298.58 $298.31 | ▼ −0.09% | ▼ −0.54% | — |
Aug 25, 2026 8w ago | 8-K | $346.15 $322.90 | ▼ −6.72% | ▼ −6.60% | — |
Jul 13, 2026 15w ago | 424B5 | $344.11 $342.66 | ▼ −0.42% | ▲ +0.36% | — |
Jul 13, 2026 15w ago | S-3ASR | $344.11 $342.66 | ▼ −0.42% | ▲ +0.36% | — |
Jun 17, 2026 18w ago | 8-K | $337.10 $342.45 | ▲ +1.59% | ▲ +3.25% | — |
US Market Status
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