The cluster reflects index rebalancing, not active thesis. Monitor next earnings (2.02) for fundamental catalysts; passive buying alone is unlikely to drive price action without active manager interest.
Executive Summary
A cluster of 8 passive index funds (Fidelity, BlackRock, State Street, etc.) increased their LDI holdings by a net $31M in Q3 2025, with no institutional sellers. All buyers are mega-passive managers, indicating index rebalancing rather than active conviction. The stock has a bearish analyst consensus and poor historical trading performance.
Key Financial Metrics
Institutional Positions
Net institutional flow: $31.0M
▲ Buyers (8)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Fidelity | DOUBLED | +518.3% | $15.0K | $14.0K |
| BlackRock | ADD | +47.5% | $19.1M | $13.8M |
| State Street | DOUBLED | +111% | $5.0M | $4.0M |
| Morgan Stanley | ADD | +94.3% | $1.2M | $959.0K |
| Schwab | ADD | +32.8% | $6.5M | $4.5M |
| Invesco | DOUBLED | +281.4% | $1.3M | $1.2M |
| BofA | DOUBLED | +267.5% | $636.0K | $565.0K |
| UBS | DOUBLED | +1125.1% | $6.2M | $6.0M |
Key Facts
- 8 passive institutional buyers, 0 sellers, net buying of $31M
- All buyers are mega-passive funds (Fidelity, BlackRock, State Street, Morgan Stanley, Schwab, Invesco, BofA, UBS)
- No active hedge funds or activist investors involved
- Analyst consensus: 0 Strong Buy, 4 Hold, 6 Sell, 1 Strong Sell (0% bullish)
Financial Impact
8 passive institutions accumulated $40M in LDI positions, net increase of $31M from prior quarter
Risk Factors
- Heavy passive ownership may exacerbate selling during market downturns
- Bearish analyst consensus suggests weak fundamentals
- Historical LDI reports show negative T+20 alpha on average
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-LDI-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 4, 2026 10w ago | 8-K | $1.04 $0.9024 | ▼ −13.23% | ▼ −12.63% | — |
Jun 11, 2026 18w ago | Institutional Cluster | $1.16 $1.14 | ▼ −1.72% | ▼ −3.62% | — |
May 18, 2026 22w ago | EFFECT | $1.19 $1.23 | ▼ −3.36% | ▼ −1.78% | — |
May 15, 2026 22w ago | 424B5 | $1.19 $1.23 | ▼ −3.36% | ▼ −1.78% | — |
May 15, 2026 22w ago | S-3/A | $1.25 $1.21 | ▲ +3.20% | ▲ +5.32% | — |
May 7, 2026 23w ago | S-3 | $1.40 $1.18 | ▲ +15.71% | ▲ +15.74% | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access