The cluster is dominated by small-to-mid-size asset managers (not passive index funds), suggesting active conviction. Monitor Q4 2026 NII guidance of +1-2% QoQ and NIM ~3.70% for confirmation of the earnings trajectory that likely drove these buys.
Executive Summary
Four asset managers accumulated $14.4M in net new RF positions during Q3 2026, led by Wealth Enhancement Advisory Services doubling its stake to $16.5M. This bullish institutional cluster follows Regions Financial's Q3 2026 earnings beat (EPS $0.71 vs $0.69 consensus) with expanding NIM and improving credit quality. The sole seller, Assenagon Asset Management, trimmed 31.7% of its position for $29.1M, partially offsetting the buying.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$14.7M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Wealth Enhancement Advisory Services | DOUBLED | +177.1% | $16.5M | $10.1M |
| Davenport & Co | ADD | +81.9% | $6.6M | $2.5M |
| Assetmark | ADD | +60% | $4.9M | $1.5M |
| Abn Amro Investment Solutions | ADD | +42.1% | $1.9M | $389.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -31.7% | $74.3M | -$29.1M |
Key Facts
- 4 institutional buyers added $14.4M in net new RF positions during Q3 2026
- Wealth Enhancement Advisory Services doubled its stake (+177.1%) to $16.5M
- Davenport & Co added 81.9% to $6.6M; Assetmark added 60.0% to $4.9M
- Assenagon Asset Management trimmed 31.7% (-$29.1M) as the sole seller
- Q3 2026 EPS of $0.71 beat consensus by 2.9%; NIM expanded 2 bps to 3.68%
Financial Impact
4 buyers added $14.4M in new RF positions; 1 seller reduced holdings by $29.1M, for net institutional outflow of $14.7M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Revenue of $1.973B slightly missed $2.02B consensus, and FY26 non-interest income growth is tracking to the lower end of 3-5%
- Single large seller (Assenagon) trimmed $29.1M, exceeding total buying
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-RF-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Institutional Cluster | $28.40 $28.47 | ▲ +0.25% | ▲ +0.77% | — |
Oct 16, 2026 11d ago | 8-K | $27.45 $27.20 | ▼ −0.91% | ▼ −1.33% | — |
Aug 10, 2026 11w ago | 13F-HR | $31.46 $31.60 | ▲ +0.45% | ▲ +0.76% | — |
Jul 17, 2026 14w ago | 8-K | $31.65 $31.11 | ▼ −1.71% | ▼ −1.54% | — |
Apr 17, 2026 27w ago | 8-K | $25.57 $25.52 | ▼ −0.20% | ▼ −0.00% | — |
Mar 23, 2026 31w ago | DEFA14A | $25.62 $25.77 | ▲ +0.58% | ▲ +0.02% | — |
US Market Status
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