The cluster shows a clear divergence: three large sellers (Assenagon, Vontobel, Swiss Life) reduced positions by $184.6M while six smaller buyers added $41.1M. The selling is concentrated and material relative to the buying. Monitor next quarter's 13F to see if the selling trend broadens or if the buyers' thesis (possibly tied to KMI's record project backlog) prevails.
How the stock moved after the report
NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 5 $30.19entry
- T+1 · 4d ago −0.76%α −1.07% · $29.96
- T+3 · todayOpen
- T+5 · tomorrow Pending
- T+20 · in 24d Pending
- T+60 · in 3mo Pending
How similar events traded
Executive Summary
Six institutional investors added KMI positions totaling $41.1M in Q3 2026, while three trimmed $184.6M, resulting in net selling of $143.5M. The buying cluster is dominated by asset managers adding modestly, while the larger sellers (Assenagon, Vontobel, Swiss Life) made substantial trims. The cluster follows KMI's Q3 earnings report (Oct 21) which showed record results but a GAAP EPS miss vs consensus.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$143.5M
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Citigroup | ADD | +35.7% | $94.8M | $20.7M |
| Neos Investment Management | ADD | +30% | $66.5M | $12.2M |
| Allspring Global Investments Holdings | ADD | +26.6% | $15.6M | $2.8M |
| Mather Group | ADD | +83% | $7.0M | $3.0M |
| Abn Amro Investment Solutions | ADD | +36.6% | $7.7M | $1.7M |
| Agf Management | ADD | +28.8% | $3.8M | $678.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -74.5% | $125.2M | -$95.1M |
| Vontobel Holding | TRIM | -58% | $126.7M | -$76.5M |
| Swiss Life Asset Management | TRIM | -42.6% | $28.3M | -$13.0M |
Key Facts
- 6 institutional buyers added $41.1M in aggregate during Q3 2026
- 3 institutional sellers trimmed $184.6M in aggregate
- Net institutional selling of $143.5M across the cluster
- Largest seller: Assenagon Asset Management trimmed 74.5% of its position ($95.1M reduction)
- Largest buyer: Citigroup added $20.7M (+35.7% increase)
- All buyers and sellers are asset managers (no activist or passive/index funds in the cluster)
- No insider open-market buying corroborates the institutional buying signal
Financial Impact
Net institutional selling of $143.5M in Q3 2026, with total buying of $41.1M and total selling of $184.6M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound or added to since quarter end
- No insider buying to corroborate the institutional buying signal
- The three sellers represent a much larger dollar amount than the six buyers, suggesting conviction on the sell side
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-KMI-2026-Q3 |
Track record
10 reports on KMI
3 of 3 bullish or bearish reports moved the stock their way by T+1. Best: +2.03% at T+1 after the Nov 6, 2026 report. 3 of 3 went positive at some point.
Filters
- Nov 10, 2026today Insider Cluster Neutral 4/10 Entry $30.17 settles Nov 12
- Nov 6, 20264d ago Insider Buy Bullish 5/10 Entry $30.57 to $31.19 ▲ +2.03% +2.40% vs SPY
- Nov 6, 20264d ago 144 Neutral 2/10 Entry $29.96 to $30.57 ▲ +2.04% −0.33% vs SPY
- Nov 5, 20265d ago 8-K Neutral 2/10 Entry $29.96 to $30.57 ▲ +2.04% −0.33% vs SPY
- Nov 4, 20265d ago Institutional Cluster Neutral 3/10 Viewing Entry $30.19 to $29.96 ▼ −0.76% −1.07% vs SPY
- Oct 21, 202620d ago 8-K Mixed 6/10 Entry $33.72 to $34.43 ▲ +2.11% +2.63% vs SPY
- May 28, 202623w ago 8-K Neutral 3/10 Entry $50.71 to $50.78 ▲ +0.14% −0.12% vs SPY
- Apr 22, 202628w ago 8-K Bullish 7/10 Entry $50.27 to $50.34 ▲ +0.14% −0.65% vs SPY
- Apr 2, 202631w ago DEFA14A Neutral 3/10 Entry $50.52 to $50.62 ▲ +0.19% −0.29% vs SPY
- Feb 28, 202636w ago Institutional Cluster Bullish 8/10 Entry $33.85 to $33.94 ▲ +0.27% +1.18% vs SPY
US Market Status
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