The cluster is too small and mixed to signal a directional thesis. All five funds are active asset managers, but the net selling outweighs buying, and zero insider buying by insiders weakens conviction. Monitor next 10-Q for any change in the selling trend, but this quarter's 13F data is stale and already partially reflected in the Oct 27 earnings reaction.
Executive Summary
In Q3 2026, two small asset managers doubled or added to HLT positions while three others trimmed, resulting in a net $6.6M outflow. The cluster is mixed and small relative to HLT's $77.8B market cap, with no insider buying to corroborate institutional conviction. The moves follow Hilton's Q3 earnings beat and raised guidance reported three days ago.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$6.6M
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Exchange Traded Concepts | DOUBLED | +208.7% | $11.3M | $7.5M |
| Daiwa Securities Group | ADD | +34.6% | $19.9M | $4.5M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Truist Financial | TRIM | -31.3% | $22.4M | -$7.6M |
| Fjarde Ap-Fonden / Fourth Swedish National | TRIM | -31% | $17.8M | -$6.0M |
| Nisa Investment Advisors | TRIM | -26.4% | $17.4M | -$5.1M |
Key Facts
- 2 institutional buyers added $12.0M in net new value (Exchange Traded Concepts DOUBLED +208.7%, Daiwa Securities ADD +34.6%)
- 3 institutional sellers trimmed $18.6M in net value (Truist Financial -31.3%, Fjarde Ap-Fonden -31.0%, Nisa Investment Advisors -26.4%)
- Net aggregate institutional flow was -$6.6M (sellers exceeded buyers)
- Confluence score 1/100 with zero open-market insider buying, indicating no insider corroboration
- Hilton reported Q3 2026 adjusted EPS of $2.45 on $3.325B revenue with raised full-year EBITDA and RevPAR guidance on Oct 27, 2026
Financial Impact
Net institutional outflow of $6.6M (buyers added $12.0M, sellers removed $18.6M), representing less than 0.01% of HLT's $77.8B market cap
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- No insider buying by company insiders to corroborate the institutional signal
- Net outflow is small relative to HLT's market cap; not a material signal
- Confluence score of 1/100 indicates institutional and insider moves are divergent
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-HLT-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | Institutional Cluster | $357.23 | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 3d ago | 144 | $356.93 $356.92 | ▼ −0.00% | ▲ +1.77% | No price |
Oct 27, 2026 5d ago | 8-K | $344.65 $349.63 | ▲ +1.44% | ▲ +1.10% | No price |
Oct 20, 2026 12d ago | 8-K | $359.29 $362.25 | ▲ +0.82% | ▲ +0.30% | No price |
Sep 15, 2026 6w ago | Insider Cluster | $305.63 $302.54 | ▼ −1.01% | ▼ −2.14% | No price |
May 18, 2026 23w ago | 8-K | $315.38 $323.51 | ▲ +2.58% | ▲ +1.54% | No price |
May 5, 2026 25w ago | 8-K | $312.50 $321.08 | ▲ +2.75% | ▲ +1.36% | No price |
Apr 28, 2026 26w ago | 8-K | $323.11 $314.32 | ▼ −2.72% | ▼ −2.71% | No price |
Apr 2, 2026 30w ago | DEFA14A | $304.95 $306.82 | ▲ +0.61% | ▲ +0.14% | No price |
US Market Status
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