The cluster is too small ($1.7M net buying vs $7.5B market cap) to drive price action. Monitor next 13F for larger funds joining or exiting to confirm a broader institutional thesis.
Executive Summary
Three asset managers (Mirae Asset, Daiwa Securities, Assetmark) doubled their PRAX positions in Q3 2026, adding a combined $1.7M in value. The cluster is small in absolute dollar terms and lacks insider buying corroboration, limiting its signal strength.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.7M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Mirae Asset Global Investments Co. | DOUBLED | +236.9% | $1.2M | $806.0K |
| Daiwa Securities Group | DOUBLED | +176.6% | $927.0K | $542.0K |
| Assetmark | DOUBLED | +135400% | $395.0K | $394.0K |
Key Facts
- 3 institutional buyers, 0 sellers in Q3 2026
- Aggregate net buying of $1.7M (current holdings $2.5M)
- Mirae Asset doubled position (+236.9% shares, +$806K)
- Daiwa Securities doubled position (+176.6% shares, +$542K)
- Assetmark increased from 1 to 1.4K shares (+$394K)
- Insider-institutional confluence score 19/100 (institutions only, no insider buying)
Financial Impact
3 asset managers accumulated $1.7M in net new PRAX positions during Q3 2026
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- All three buyers are asset managers, not high-conviction activist or event-driven funds
- No insider buying to corroborate the institutional signal
- Aggregate buying is immaterial relative to market cap (0.02%)
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-PRAX-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | Institutional Cluster | $288.62 | awaiting T+60 | awaiting T+60 | No price |
Jun 29, 2026 17w ago | 8-K | $334.79 $282.12 | ▲ +15.73% | ▲ +18.55% | No price |
Jun 11, 2026 20w ago | Institutional Cluster | $247.98 $351.81 | ▲ +41.87% | ▲ +37.47% | No price |
Jun 2, 2026 21w ago | Press Release | $278.93 $367.85 | ▲ +31.88% | ▲ +29.38% | No price |
May 7, 2026 25w ago | Press Release | $333.28 $305.51 | ▼ −8.33% | ▼ −12.17% | No price |
May 4, 2026 25w ago | Press Release | $333.30 $307.75 | ▼ −7.67% | ▼ −10.41% | No price |
Apr 14, 2026 28w ago | Press Release | $343.60 $333.12 | ▼ −3.05% | ▼ −11.57% | No price |
Apr 6, 2026 29w ago | Press Release | $310.11 $319.60 | ▲ +3.06% | ▼ −10.41% | No price |
Mar 30, 2026 30w ago | Press Release | $322.19 $327.79 | ▲ +1.74% | ▼ −10.64% | No price |
Feb 28, 2026 35w ago | Institutional Cluster | $330.59 $350.60 | ▲ +6.05% | ▼ −3.27% | No price |
US Market Status
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