The cluster is essentially a single-fund story: Assenagon's $595M doubling dominates. Monitor whether Assenagon maintains or reduces this position in the next 13F filing (due Nov 14) for conviction durability. The 45-day lag means the Q3 positioning may already be unwound — watch for any insider Form 4 filings or earnings-related 8-Ks that could corroborate or contradict the thesis.
Executive Summary
Three institutional asset managers, led by Assenagon Asset Management, collectively added $600.1M in KLAC during Q3 2026, overwhelmingly concentrated in a single $595.2M position doubling by Assenagon. One seller, TD Waterhouse Canada, trimmed $84.7M. The cluster is strongly bullish in net dollar terms but is dominated by a single large active manager's conviction, with the other two buyers holding trivial positions. The 45-day reporting lag means this Q3 positioning may already be stale.
Key Financial Metrics
Institutional Positions
Net institutional flow: $515.4M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +239.3% | $1.1B | $595.2M |
| Ninety One Uk | DOUBLED | +771.7% | $360.0K | $296.0K |
| Concurrent Investment Advisors | DOUBLED | +131.7% | $13.9M | $4.6M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Td Waterhouse Canada | TRIM | -41.9% | $150.3M | -$84.7M |
Key Facts
- 3 institutional buyers added a net $600.1M in KLAC during Q3 2026, while 1 seller reduced by $84.7M
- Assenagon Asset Management doubled its KLAC position to $1.09B, accounting for $595.2M of the total net buying
- TD Waterhouse Canada trimmed 41.9% of its KLAC stake, selling $84.7M
- Two other buyers (Ninety One UK and Concurrent Investment Advisors) added only ~$4.9M combined — negligible relative to the cluster total
Financial Impact
Net institutional accumulation of $515.4M (3 buyers added $600.1M, 1 seller reduced $84.7M) in KLAC during Q3 2026
Risk Factors
- 13F data is 45+ days stale; the cluster may have been partially or fully unwound since quarter-end
- Assenagon's single-fund dominance means the cluster signal is not diversified — one manager's conviction, not a broad consensus
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-KLAC-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | Institutional Cluster | $166.40 $149.21 | ▼ −10.33% | ▼ −10.19% | — |
Sep 22, 2026 4w ago | DEF 14A | $187.86 $194.93 | ▲ +3.76% | ▲ +4.44% | — |
Aug 14, 2026 10w ago | Insider Cluster | $205.76 $181.57 | ▲ +11.76% | ▲ +10.57% | — |
Aug 13, 2026 10w ago | Insider Cluster | $203.72 $183.99 | ▼ −9.68% | ▼ −8.32% | — |
Aug 12, 2026 10w ago | Insider Cluster | $209.37 $185.86 | ▼ −11.23% | ▼ −9.26% | — |
Aug 11, 2026 10w ago | Insider Cluster | $208.25 $187.27 | ▼ −10.07% | ▼ −9.63% | — |
Aug 5, 2026 11w ago | Insider Cluster | $193.22 $209.37 | ▲ +8.36% | ▲ +7.15% | — |
Aug 5, 2026 11w ago | Insider Cluster | $193.22 $209.37 | ▲ +8.36% | ▲ +7.15% | — |
Aug 5, 2026 11w ago | Insider Cluster | $193.22 $209.37 | ▲ +8.36% | ▲ +7.15% | — |
Aug 5, 2026 11w ago | Insider Cluster | $193.22 $209.37 | ▲ +8.36% | ▲ +7.15% | — |
US Market Status
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