The cluster is small in dollar terms but unanimous in direction among active managers. Monitor for follow-on 13F filings next quarter to see if the buying trend accelerates or reverses. The ETF's infrastructure theme may benefit from ongoing federal spending tailwinds.
Executive Summary
Four asset managers accumulated $1.2M in PAVE (Global X U.S. Infrastructure Development ETF) during Q3 2026, while one trimmed $876K. The net buying conviction is modest in absolute dollar terms but unanimous among active managers, suggesting a shared positive view on U.S. infrastructure exposure.
Key Financial Metrics
Institutional Positions
Net institutional flow: $324.0K
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Concurrent Investment Advisors | ADD | +31.7% | $3.4M | $501.0K |
| Hb Wealth Management | DOUBLED | +107.4% | $822.0K | $377.0K |
| Mather Group | DOUBLED | +506.9% | $242.0K | $197.0K |
| Davenport & Co | ADD | +37.5% | $429.0K | $79.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Td Waterhouse Canada | TRIM | -47.3% | $1.7M | -$876.0K |
Key Facts
- 4 buyers added $1.2M in new holdings, 1 seller reduced by $876K
- Two funds (Mather Group, Hb Wealth Management) doubled their positions
- Concurrent Investment Advisors added the largest dollar amount (+$501K)
- Td Waterhouse Canada trimmed 47.3% of its position, exiting $876K
Financial Impact
Net institutional accumulation of ~$324K across 5 funds, with total buying of $1.2M and total selling of $876K
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Small absolute dollar amounts limit signal strength
- No insider buying corroboration to confirm the thesis
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-PAVE-2026-Q3 |
US Market Status
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