The near-exit by Mirae Asset and trims by Nisa and Assetmark suggest a shared bearish thesis among active managers. With no insider buying to offset, monitor upcoming 10-Q for revenue or margin weakness that may have driven the selling.
Executive Summary
Three institutional asset managers reduced their HSAI positions by a combined $1.8M in Q3 2026, while one small manager doubled a negligible holding. The selling is concentrated and material relative to the buying, and there is no insider buying to corroborate institutional conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$1.8M
▲ Buyers (1)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | DOUBLED | +346% | $17.0K | $13.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Mirae Asset Global Investments Co. | NEAR_EXIT | -82.8% | $2.1M | -$1.8M |
| Nisa Investment Advisors | TRIM | -53.4% | $1.0K | -$626.00 |
| Assetmark | NEAR_EXIT | -77.6% | $7.0K | -$6.0K |
Key Facts
- 3 sellers reduced holdings by net -$1.8M; 1 buyer added only $13K
- Mirae Asset Global Investments cut 82.8% of its position, exiting $1.8M in value
- No open-market insider buying in the window (confluence score 6/100)
- All three sellers are active asset managers, not passive index funds
Financial Impact
Net institutional selling of approximately $1.8M, or roughly 0.09% of HSAI's $2.1B market cap
Risk Factors
- 13F data is 45+ days stale; positions may have been rebuilt since quarter-end
- Small sample size (3 sellers) limits statistical significance
- No stated reason for selling in the filing data
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-HSAI-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Institutional Cluster | $12.97 $12.18 | ▲ +6.09% | ▲ +4.32% | No price |
Oct 20, 2026 12d ago | 6-K | $13.99 $13.19 | ▼ −5.72% | ▼ −6.24% | No price |
Sep 22, 2026 5w ago | Institutional Cluster | $17.10 $16.31 | ▲ +4.62% | ▲ +3.90% | No price |
Sep 17, 2026 6w ago | 6-K | $16.92 $16.52 | ▼ −2.34% | ▼ −2.22% | No price |
Aug 28, 2026 9w ago | 6-K | $17.42 $16.12 | ▼ −7.46% | ▼ −7.16% | No price |
Aug 18, 2026 10w ago | 6-K | $17.11 $17.77 | ▲ +3.86% | ▲ +3.65% | No price |
Aug 18, 2026 10w ago | Press Release | $17.11 $17.77 | ▲ +3.86% | ▲ +3.65% | No price |
Jul 31, 2026 13w ago | 6-K | $16.90 $17.79 | ▲ +5.27% | ▲ +3.84% | No price |
Jul 27, 2026 13w ago | 6-K | $15.43 $15.90 | ▲ +3.05% | ▲ +2.81% | No price |
Jul 27, 2026 13w ago | Press Release | $15.43 $15.90 | ▲ +3.05% | ▲ +2.81% | No price |
US Market Status
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