The buying cluster is small and lacks conviction from large directional funds or activists. The single large seller dominates the dollar-weighted signal is net negative. Monitor for any follow-on filings or insider activity to see if the selling continues.
Executive Summary
Four active asset managers added a net $37.3M in Mastercard positions in Q3 2026, while one large manager trimmed 308.8M. The buying cluster is modest in scale and dominated by small-to-mid-sized advisors, not large directional funds. The single large seller outweighs the buyers in dollar terms, making the net institutional flow negative.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$271.5M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Congress Asset Management | ADD | +39.1% | $23.8M | $7.9M |
| Farther Finance Advisors | ADD | +46.2% | $27.9M | $10.1M |
| Mather Group | ADD | +31.6% | $12.5M | $3.6M |
| Concurrent Investment Advisors | ADD | +58.7% | $37.9M | $15.7M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -72% | $441.7M | -$308.8M |
Key Facts
- Four asset managers added Mastercard positions totaling 37.3M in Q3 2026.
- One manager (Assenagon) trimmed 308.8M, reducing its stake by 72%.
- Net institutional flow was negative 271.5M (buyers +37.3M vs seller -308.8M).
- All four buyers were small-to-mid-sized active advisors, not large hedge funds or activists.
Financial Impact
Four buyers added 37.3M in Mastercard; one seller trimmed 308.8M, for a net negative net flow of 271.5M.
Risk Factors
- 13F data is 45 days stale; the cluster may have already been unwound.
- The single large seller dominates the dollar-weighted signal; the buying cluster is small and lacks conviction from large directional funds.
- No insider buying or activist 13D filing to corroborate the cluster.
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-MA-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 9d ago | Insider Cluster | $619.17 | awaiting T+60 | — | — |
Oct 16, 2026 11d ago | Institutional Cluster | $617.42 | awaiting T+60 | — | — |
Oct 12, 2026 15d ago | Institutional Cluster | $595.09 | awaiting T+60 | — | — |
Oct 9, 2026 18d ago | 144 | $595.09 | awaiting T+60 | — | — |
Sep 3, 2026 7w ago | Insider Cluster | $578.33 | awaiting T+60 | — | — |
Aug 20, 2026 9w ago | Insider Cluster | $580.63 | awaiting T+60 | — | — |
Aug 6, 2026 11w ago | Insider Cluster | $562.95 | awaiting T+60 | — | — |
Aug 5, 2026 11w ago | Insider Cluster | $575.95 | awaiting T+60 | — | — |
Jul 30, 2026 12w ago | 8-K | $577.35 $623.60 | ▲ +8.01% | ▲ +5.55% | — |
Jul 15, 2026 14w ago | Insider Cluster | $551.54 $589.14 | ▲ +6.82% | ▲ +3.11% | — |
US Market Status
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