The cluster shows strong active manager conviction, but the 45-day reporting lag means these positions may already be stale. Monitor next 13F filings for retention or reversal of these builds.
Executive Summary
Three asset managers (D.a. Davidson, Truist Financial, Concurrent Investment Advisors) significantly increased their JQUA positions in Q3 2026, with two doubling holdings, while only one small seller trimmed. Aggregate net buying was $28.8M, but the 45-day reporting lag and absence of insider buying weaken the signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $28.8M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| D.a. Davidson & | DOUBLED | +230.5% | $26.7M | $18.8M |
| Truist Financial | ADD | +35.8% | $11.0M | $3.1M |
| Concurrent Investment Advisors | DOUBLED | +673.4% | $8.0M | $7.0M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Davenport & Co | TRIM | -37.6% | $351.0K | -$128.0K |
Key Facts
- 3 institutional buyers accumulated $45.7M in current holdings, net change +$28.8M
- D.a. Davidson doubled position (+230.5% shares, value from $7.9M to $26.7M)
- Concurrent Investment Advisors nearly 7x'd position (+673.4% shares, value from $1.0M to $8.0M)
- Truist Financial added 35.8% (value from $8.0M to $11.0M)
- Only 1 seller: Davenport & Co trimmed 37.6% (value from $351K to $224K, net -$128K)
- No open-market insider buying in the same window (confluence score 23/100, institutions_only)
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
Financial Impact
3 institutions accumulated $28.8M net in JQUA during Q3 2026, while 1 seller reduced by $128K
Risk Factors
- 13F data is stale by 45+ days; current holdings may differ materially
- No insider buying corroboration weakens the signal's conviction
- All buyers are asset managers, not activist or event-driven funds, limiting catalyst interpretation
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-JQUA-2026-Q3 |
US Market Status
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