The cluster is too small in dollar terms and too stale (45-day lag) to drive a trading signal. Monitor next 13F filing for any continuation or reversal of this buying pattern, and watch for insider open-market purchases to confirm conviction.
How the stock moved after the report
NEUTRAL VIEWSTOCK BELOW ENTRY AT T+1- T+0 · Nov 3 $78.63entry
- T+1 · 11h ago −2.66%α −4.31% · $76.54
- T+5 · in 6d Pending
- T+20 · in 28d Pending
- T+60 · in 3mo Pending
How similar events traded
Executive Summary
Seven small asset managers added to their NFG positions in Q3 2026, with aggregate buying of $4.4M and no institutional selling. The cluster is entirely one-sided but consists of small, non-concentrated positions from asset managers, and the 45-day reporting lag means the buying may have already been reversed. No insider buying corroborates the signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $4.4M
▲ Buyers (7)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Creative Planning | ADD | +60.4% | $7.8M | $2.8M |
| Alps Advisors | ADD | +27.3% | $3.6M | $712.0K |
| Hb Wealth Management | ADD | +67.3% | $632.0K | $246.0K |
Key Facts
- 7 institutional buyers with aggregate current holdings of $14.1M and net buying of $4.4M
- 0 institutional sellers in the cluster
- Largest buyer: Creative Planning added $2.8M (+60.4% shares)
- All buyers are asset managers; no activist, quant, or family office funds
- 13F data is from Q3 2026 quarter-end, filed with a 45-day lag
- Insider confluence score of 32/100 indicates no open-market insider buying in the window
Financial Impact
Net institutional buying of $4.4M across 7 funds, representing approximately 0.06% of NFG's $7.5B market cap
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- All buyers are small asset managers with no history of activist or catalyst-driven investing
- No insider buying to corroborate the institutional signal
- Aggregate buying of $4.4M is immaterial relative to NFG's $7.5B market cap
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-NFG-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | 8-K | $78.62 | awaiting T+20 | awaiting T+20 | No price |
Nov 4, 2026 today | Press Release | $77.77 | awaiting T+20 | awaiting T+20 | No price |
Nov 3, 2026 1d ago | Institutional Cluster | $78.63 | awaiting T+20 | awaiting T+20 | No price |
Oct 15, 2026 20d ago | Press Release | $78.38 | awaiting T+20 | awaiting T+20 | No price |
Oct 14, 2026 21d ago | 8-K | $79.20 | awaiting T+20 | awaiting T+20 | No price |
Oct 12, 2026 23d ago | Institutional Cluster | $79.71 | awaiting T+20 | awaiting T+20 | No price |
Oct 1, 2026 4w ago | 8-K | $76.26 $79.29 | ▲ +3.97% | ▲ +3.26% | No price |
Oct 1, 2026 4w ago | Press Release | $76.26 $79.29 | ▲ +3.97% | ▲ +3.26% | No price |
Sep 17, 2026 6w ago | Press Release | $79.89 $78.38 | ▼ −1.89% | ▼ −3.10% | No price |
Sep 17, 2026 6w ago | Press Release | $79.89 $78.38 | ▼ −1.89% | ▼ −3.10% | No price |
US Market Status
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