The cluster suggests institutional conviction in PUMP's recovery thesis, but the 45-day lag means positions may have been adjusted since quarter-end. Monitor Q1 2026 13F filings for confirmation of continued accumulation. The dominance of quant funds (D.E. Shaw, RenTech, Two Sigma) implies a factor-driven thesis (value, momentum, or mean-reversion) rather than a fundamental catalyst.
Executive Summary
A bullish institutional cluster formed in PUMP during Q4 2025, with 8 buyers accumulating $70.9M in net new positions versus 1 seller trimming $1.9M. The buying was dominated by mega-passive managers (BofA, Morgan Stanley, Wells Fargo) and quant funds (D.E. Shaw, RenTech, Two Sigma), suggesting a shared thesis around oilfield services recovery or undervaluation. The cluster's signal is tempered by the 45-day 13F lag and the dominance of passive/quant funds over active fundamental managers.
Key Financial Metrics
Institutional Positions
Net institutional flow: $69.0M
▲ Buyers (8)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| D.E. Shaw | DOUBLED | +106.7% | $36.3M | $26.6M |
| Nuveen | DOUBLED | +465.5% | $14.2M | $12.8M |
| Morgan Stanley | DOUBLED | +117.1% | $18.3M | $13.7M |
| BofA | DOUBLED | +183.9% | $6.8M | $5.5M |
| Two Sigma | DOUBLED | +164.7% | $7.9M | $6.3M |
| RenTech | DOUBLED | +258.3% | $6.3M | $5.3M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Ameriprise Financial | TRIM | -29.8% | $7.0M | -$1.9M |
Key Facts
- 8 institutions accumulated $70.9M in net new PUMP positions during Q4 2025
- D.E. Shaw doubled its stake to $36.3M (largest buyer by value)
- Nuveen increased its position by 465.5% to $14.2M
- Only 1 seller (Ameriprise Financial) trimmed $1.9M
- Buyers split between mega-passive (BofA, Morgan Stanley, Wells Fargo) and quant funds (D.E. Shaw, RenTech, Two Sigma)
- T. Rowe Price added modestly (+$380), consistent with passive rebalancing
Financial Impact
8 institutions accumulated $70.9M in new positions while 1 institution reduced holdings by $1.9M, for net institutional buying of approximately $69.0M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- Cluster dominated by passive/quant funds, not active fundamental managers with strong alpha track records
- Historical calibration shows negative net alpha (-2.04%) at T+20 for this segment
- Prior PUMP reports show mixed T+20 outcomes (33% win rate)
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-PUMP-2025-Q4 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | Insider Cluster | $11.00 $11.23 | ▲ +2.09% | ▲ +2.69% | — |
Aug 4, 2026 8w ago | 144 | $11.00 $11.23 | ▲ +2.09% | ▲ +2.69% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $14.78 $12.80 | ▼ −13.40% | ▼ −15.29% | — |
May 7, 2026 21w ago | 8-K | $15.68 $14.74 | ▼ −5.99% | ▼ −6.02% | — |
May 4, 2026 21w ago | 8-K | $16.85 $15.34 | ▼ −8.96% | ▼ −14.61% | — |
Apr 8, 2026 25w ago | DEFA14A | $13.65 $15.77 | ▲ +15.53% | ▲ +7.96% | — |
US Market Status
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