Monitor next 10-Q for organic revenue growth and margin trends to validate the thesis.
Executive Summary
Five institutional asset managers accumulated $35.1M in net new IR positions during Q3 2026, led by Assenagon Asset Management (nearly 14x its stake to $19.9M) and Parnassus Investments (adding $11.7M to reach $61.9M). The sole seller, TD Waterhouse Canada, trimmed $4.4M.
Key Financial Metrics
Institutional Positions
Net institutional flow: $35.1M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +1395.2% | $19.9M | $18.4M |
| Parnassus Investments | ADD | +34.7% | $61.9M | $11.7M |
| Assetmark | DOUBLED | +105.5% | $7.0M | $3.3M |
| Wealth Enhancement Advisory Services | ADD | +90.5% | $3.0M | $1.4M |
| Hb Wealth Management | ADD | +38.7% | $973.0K | $207.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Td Waterhouse Canada | TRIM | -69.6% | $6.1M | -$4.4M |
Key Facts
- 5 buyers added $35.1M net; 1 seller reduced $4.4M
- Assenagon Asset Management increased shares by 1,395% to a $19.9M position
- Parnassus Investments added $11.7M, now holding $61.9M (largest buyer)
- TD Waterhouse Canada trimmed 69.6% of its stake, selling $4.4M
- All tracked funds are active asset managers — no passive/index funds in the cluster
Financial Impact
Net institutional accumulation of $35.1M (buyers added $35.1M, sellers removed $4.4M) across 6 funds
Risk Factors
- 13F data is stale (Q3 2026 quarter-end); positions may have been unwound since
- Single seller (TD Waterhouse Canada) trimmed aggressively — could indicate a bearish counter-signal
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-IR-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Institutional Cluster | $75.07 | awaiting T+1 | awaiting T+1 | No price |
Oct 23, 2026 4d ago | Institutional Cluster | $73.48 $74.52 | ▲ +1.42% | ▲ +0.70% | No price |
Aug 5, 2026 11w ago | Insider Buy | $88.24 $86.97 | ▼ −1.44% | ▼ −2.05% | No price |
Jun 16, 2026 19w ago | 8-K | $77.07 $77.91 | ▲ +1.09% | ▲ +0.31% | No price |
Apr 28, 2026 26w ago | 8-K | $77.45 $79.86 | ▲ +3.11% | ▲ +2.09% | No price |
Apr 24, 2026 26w ago | DEFA14A | $83.76 $80.99 | ▼ −3.31% | ▼ −2.82% | No price |
Apr 8, 2026 28w ago | Press Release | $87.04 | awaiting T+1 | awaiting T+1 | No price |
Feb 28, 2026 34w ago | Institutional Cluster | $93.95 $91.50 | ▼ −2.61% | ▼ −1.69% | No price |
US Market Status
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