The one-sided accumulation by asset managers suggests a shared positive thesis, but the 45-day reporting lag and absence of insider buying weaken conviction. Monitor next 13F filing for retention of these positions and any insider Form 4 activity for corroboration.
Executive Summary
Four institutional asset managers added to their NBIS positions in Q3 2026, with aggregate holdings rising $40.2M to $158.5M. No sellers were present in the cluster, indicating a one-sided accumulation signal, though the 13F data is 45+ days stale and insider activity diverges (no open-market insider buying).
Key Financial Metrics
Institutional Positions
Net institutional flow: $40.2M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Of Michigan Retirement System | ADD | +63.2% | $2.4M | $688.0K |
| Exchange Traded Concepts | ADD | +32.5% | $24.1M | $2.8M |
| Mirae Asset Global Investments Co. | ADD | +66.3% | $117.4M | $34.8M |
| Truist Financial | ADD | +35.6% | $14.6M | $2.0M |
Key Facts
- 4 institutional buyers added a net $40.2M to NBIS positions in Q3 2026
- Aggregate institutional holdings reached $158.5M across 4 funds
- No institutional sellers in the cluster
- Insider activity diverges: 13F × Form 4 confluence score 14/100, no open-market insider buys
- All buyers are asset managers (not activist or event-driven funds)
Financial Impact
4 institutions added $40.2M in net new positions, bringing total disclosed holdings to $158.5M. No selling activity.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- No insider buying to corroborate institutional conviction
- All buyers are asset managers, not activist or event-driven funds with stronger signals
- 13F filings may be strategically misreported per academic studies
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-NBIS-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | Institutional Cluster | $151.26 | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 3d ago | 144 | $166.00 | awaiting T+1 | awaiting T+1 | No price |
Oct 26, 2026 6d ago | Insider Cluster | $170.47 $182.34 | ▲ +6.96% | ▲ +6.62% | No price |
Oct 22, 2026 10d ago | 6-K | $159.17 $158.74 | ▼ −0.27% | ▲ +0.25% | No price |
Oct 20, 2026 12d ago | Insider Cluster | $171.45 $171.57 | ▼ −0.07% | ▲ +0.46% | No price |
Oct 19, 2026 13d ago | Insider Cluster | $170.24 $171.45 | ▼ −0.71% | ▼ −0.38% | No price |
Oct 16, 2026 16d ago | Insider Cluster | $170.24 $171.45 | ▼ −0.71% | ▼ −0.38% | No price |
Oct 7, 2026 24d ago | SC 13G/A | $219.71 $221.07 | ▲ +0.62% | ▲ +0.02% | No price |
Oct 5, 2026 27d ago | Insider Cluster | $232.57 $249.87 | ▼ −7.44% | ▼ −6.89% | No price |
Sep 21, 2026 5w ago | Insider Cluster | $236.12 $226.61 | ▲ +4.03% | ▲ +3.31% | No price |
US Market Status
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