The cluster shows a clear divergence: large asset managers (Principal, STRS Ohio) reduced exposure meaningfully while tiny advisors added token amounts. The selling is concentrated and material relative to the buyers' activity. Monitor whether Principal's reduction continues into Q4 and whether the Q3 GAAP loss drives further institutional rotation out of the name.
How the stock moved after the report
⚠ Clustered NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 2 $14.81entry
- T+1 · 2d ago −11.21%α −12.86% · $13.15
- T+3 · todayOpen
- T+5 · in 4d Pending
- T+20 · in 26d Pending
- T+60 · in 3mo Pending
How similar events traded
Executive Summary
Q3 2026 13F filings show mixed institutional activity in Liberty Energy: three small asset managers added modest positions (net +$24K), while two larger holders trimmed significantly (net -$19.4M), led by Principal Financial Group reducing by $16.6M. The selling follows Q3 earnings that showed a GAAP net loss despite revenue growth, and the cluster is dominated by passive/asset-manager funds with no activist or high-conviction active manager involvement.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$19.4M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Sumitomo Mitsui Trust Group | ADD | +43% | $925.0K | -$5.0K |
| Farther Finance Advisors | ADD | +73.6% | $169.0K | $29.0K |
| Assetmark | ADD | +33.3% | $364.00 | -$29.00 |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Strs Ohio | TRIM | -61.9% | $3.8M | -$2.8M |
| Principal Financial Group | TRIM | -33.2% | $31.0M | -$16.6M |
Key Facts
- 3 institutional buyers added $24K in net new value (all small adds by asset managers)
- 2 institutional sellers reduced holdings by $19.4M, led by Principal Financial Group trimming $16.6M (33.2% reduction)
- STRS Ohio trimmed 61.9% of its position, reducing value by $2.8M
- Total net institutional outflow was $19.4M, heavily weighted to the sell side
- Insider activity shows 1 open-market buy of $223K (confluence score 47/100, 'conviction')
- Q3 2026 earnings reported 26% YoY revenue growth but a GAAP net loss of $39M due to a $62.9M investment loss
Financial Impact
Net institutional selling of $19.4M (buyers added $24K, sellers reduced $19.4M); Principal Financial Group alone accounted for $16.6M of the selling
Risk Factors
- 13F data is 45+ days stale; positions may have been further adjusted since quarter-end
- The cluster is dominated by passive/asset-manager funds, reducing signal quality
- Q3 GAAP net loss of $39M from investment losses may continue to weigh on sentiment
- Insider buying ($223K) is small relative to institutional selling and may not offset the bearish signal from large trims
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-LBRT-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 5, 2026 today | Insider Cluster | $12.89 | awaiting T+20 | awaiting T+20 | No price |
Nov 2, 2026 2d ago | Institutional Cluster | $14.81 | awaiting T+20 | awaiting T+20 | No price |
Nov 2, 2026 3d ago | Insider Cluster | $14.81 | awaiting T+20 | awaiting T+20 | No price |
Nov 2, 2026 3d ago | 144 | $14.81 | awaiting T+20 | awaiting T+20 | No price |
Oct 21, 2026 15d ago | 8-K | $15.38 | awaiting T+20 | awaiting T+20 | No price |
Oct 6, 2026 4w ago | 144 | $19.41 $13.15 | ▼ −32.25% | ▼ −30.91% | No price |
Sep 10, 2026 8w ago | Institutional Cluster | $20.76 $18.85 | ▼ −9.20% | ▼ −11.32% | No price |
Aug 4, 2026 13w ago | Insider Cluster | $19.40 $20.11 | ▲ +3.66% | ▲ +4.26% | No price |
Jun 25, 2026 19w ago | 8-K | $26.86 $19.62 | ▼ −26.95% | ▼ −28.22% | No price |
May 5, 2026 26w ago | 144 | $32.47 $31.06 | ▼ −4.34% | ▼ −7.12% | No price |
US Market Status
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