The cluster is dominated by one large buyer (Assenagon) and three small adds, with no insider corroboration. Monitor next 10-Q for revenue/earnings trends and any guidance changes that could explain the divergence between institutional buying and insider inactivity.
Executive Summary
Four institutional asset managers added to MTD positions in Q3 2026, with Assenagon Asset Management leading a $32.5M increase, while one seller trimmed a small position. The cluster shows net buying of $34.8M, but the 45-day reporting lag and absence of insider buying weaken the signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $34.8M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | ADD | +48.5% | $75.4M | $32.5M |
| Unisuper Management Pty | ADD | +34.3% | $4.0M | $1.5M |
| Abn Amro Investment Solutions | ADD | +30.6% | $2.2M | $791.0K |
| Farther Finance Advisors | ADD | +32.7% | $227.0K | $82.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Td Waterhouse Canada | TRIM | -40.8% | $4.6M | -$1.5M |
Key Facts
- 4 institutional buyers added $34.8M net to MTD positions in Q3 2026
- Assenagon Asset Management increased by $32.5M (+48.5% shares), the largest buyer
- 1 seller (TD Waterhouse Canada) trimmed $1.5M (-40.8% shares)
- Aggregate buyer holdings: $81.8M; seller holdings: $3.1M
- Confluence score 14/100, divergent with 0 open-market insider buyers
Financial Impact
Net institutional buying of $34.8M across 4 buyers, with Assenagon alone adding $32.5M. Total buyer holdings $81.8M vs seller holdings $3.1M.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- No insider buying to corroborate the institutional thesis
- Confluence score 'divergent' suggests institutional and insider signals conflict
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-MTD-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Institutional Cluster | $1,664.22 | awaiting T+20 | awaiting T+20 | No price |
Oct 26, 2026 2d ago | Institutional Cluster | $1,669.62 | awaiting T+20 | awaiting T+20 | No price |
Aug 7, 2026 11w ago | Insider Cluster | $1,421.25 $1,345.26 | ▼ −5.35% | ▼ −4.95% | No price |
Aug 5, 2026 11w ago | Insider Cluster | $1,413.47 $1,367.74 | ▼ −3.24% | ▼ −2.63% | No price |
May 13, 2026 24w ago | 8-K | $1,022.25 $1,141.25 | ▲ +11.64% | ▲ +12.25% | No price |
Mar 18, 2026 32w ago | DEFA14A | $1,190.74 $1,283.15 | ▲ +7.76% | ▲ +1.71% | No price |
US Market Status
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