The cluster is small in absolute dollar terms ($2.4M total buyer holdings vs $5.9B market cap) and dominated by asset managers rather than activist or event-driven funds. Without insider corroboration or a stated catalyst, this is a low-conviction signal. Monitor next quarter's 13F for follow-through or reversal.
Executive Summary
Four asset managers increased their HRB positions in Q3 2026, led by Mirae Asset Global Investments doubling its stake to $1.3M, while one seller trimmed modestly. The cluster shows net buying of $1.6M, but the 45-day reporting lag and absence of insider buying limit the signal's timeliness.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.6M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Mirae Asset Global Investments Co. | DOUBLED | +2645.9% | $1.3M | $1.3M |
| Farther Finance Advisors | ADD | +27.2% | $983.0K | $263.0K |
| Mather Group | ADD | +33.3% | $29.0K | $9.0K |
| Assetmark | DOUBLED | +198.9% | $11.0K | $7.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| D.a. Davidson & | TRIM | -43.7% | $477.0K | -$189.0K |
Key Facts
- 4 institutional buyers added $1.6M in net new holdings during Q3 2026
- Mirae Asset Global Investments doubled its position from $46K to $1.3M (+2646% shares)
- Farther Finance Advisors added 27% ($720K to $983K)
- Only 1 seller (D.a. Davidson) trimmed 44% of its stake, reducing value by $189K
- Insider activity shows no open-market buying (confluence score 3/100, divergent)
- Top holders BlackRock ($622M) and Fidelity ($600M) are passive/index managers
Financial Impact
Net institutional buying of $1.6M across 4 funds, with total buyer holdings of $2.4M; one seller reduced by $189K
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- No insider buying to corroborate the institutional thesis
- Small absolute dollar amounts relative to market cap limit materiality
- Passive/index funds (BlackRock, Fidelity) are top holders, reducing active signal weight
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-HRB-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Institutional Cluster | $49.68 | awaiting T+20 | awaiting T+20 | No price |
Oct 27, 2026 5d ago | Institutional Cluster | $47.80 | awaiting T+20 | awaiting T+20 | No price |
Jul 28, 2026 13w ago | Press Release | $47.18 | awaiting T+20 | awaiting T+20 | No price |
Apr 22, 2026 27w ago | Press Release | $31.01 $39.80 | ▲ +28.35% | ▲ +23.71% | No price |
US Market Status
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