The cluster is dominated by a single large seller (Davenport & Co) and two near-exits, but the aggregate dollar outflow is modest relative to IONS' market cap. Monitor next 13F for follow-through selling or stabilization; the small buyers show no conviction at scale.
Executive Summary
A mixed institutional cluster in IONS for Q3 2026 shows two small asset managers adding modest positions (net +$13K) while three others, led by Davenport & Co, reduced holdings by a combined $20.6M. The net selling pressure is dominated by a single near-exit from Davenport, which slashed 78% of its stake, suggesting a loss of conviction among some allocators despite minor accumulation by smaller firms.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$20.6M
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Mather Group | ADD | +25.9% | $23.0K | -$9.0K |
| Nisa Investment Advisors | ADD | +64.8% | $43.0K | -$3.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | TRIM | -34.1% | $88.0K | -$55.0K |
| Davenport & Co | NEAR_EXIT | -78.1% | $22.5M | -$19.7M |
| Assetmark | NEAR_EXIT | -98.7% | $788.0K | -$782.0K |
Key Facts
- Net institutional activity: 2 buyers (total current holdings $66K) vs 3 sellers (net reduction of $20.6M)
- Davenport & Co reduced its position by 78.1%, selling $19.7M worth of shares (284K → 62.2K shares)
- Assetmark nearly exited, cutting 98.7% of its position ($788K → $6K)
- Mather Group and Nisa Investment Advisors added small positions worth $23K and $43K respectively
Financial Impact
Three sellers reduced holdings by a combined $20.6M, while two buyers added only $13K in net new value — a net outflow of approximately $20.6M from tracked institutions.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound further since quarter-end
- Cluster is small (5 institutions) and dominated by asset managers, not activist or high-conviction funds
- Net selling of $20.6M is not large enough to signal a thesis break — could be portfolio rebalancing
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-IONS-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $42.93 | awaiting T+20 | — | — |
Oct 21, 2026 5d ago | 8-K | $43.91 | awaiting T+20 | — | — |
Oct 21, 2026 5d ago | Institutional Cluster | $43.91 | awaiting T+20 | — | — |
Sep 23, 2026 4w ago | 8-K | $43.93 $44.27 | ▲ +0.77% | ▲ +0.09% | — |
Sep 4, 2026 7w ago | 8-K | $56.71 $44.00 | ▲ +22.41% | ▲ +24.13% | — |
Sep 4, 2026 7w ago | 8-K | $58.09 $43.50 | ▼ −25.12% | ▼ −25.72% | — |
Jul 31, 2026 12w ago | Insider Buy | $54.49 $60.36 | ▲ +10.77% | ▲ +9.53% | — |
Jul 29, 2026 12w ago | 8-K | $54.04 $63.36 | ▲ +17.25% | ▲ +12.23% | — |
Jul 9, 2026 15w ago | 8-K | $58.25 $56.56 | ▼ −2.90% | ▼ −5.33% | — |
Jul 9, 2026 15w ago | Insider Cluster | $58.25 $56.56 | ▼ −2.90% | ▼ −5.33% | — |
US Market Status
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