The selling is broad-based across three asset managers, while the sole buyer is a single active manager. Monitor upcoming earnings for any guidance revision or competitive pressure commentary that may explain the bearish cluster. The 45-day reporting lag means these positions may have already been adjusted.
Executive Summary
An institutional cluster for ResMed (RMD) shows a bearish net conviction in Q3 2026, with 3 sellers trimming $2.1M in aggregate versus 1 buyer adding $7.0M. The selling is broad-based across asset managers, while the sole buyer, Assenagon Asset Management, increased its position by 25.8%. The cluster suggests cautious positioning ahead of potential headwinds in the CPAP/ respiratory device market.
Key Financial Metrics
Institutional Positions
Net institutional flow: $4.9M
▲ Buyers (1)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | ADD | +25.8% | $23.3M | $7.0M |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Congress Asset Management | TRIM | -29.7% | $373.0K | -$76.0K |
| Fjarde Ap-Fonden /Fourth Swedish National | TRIM | -28% | $10.1M | -$1.9M |
| Vontobel Holding | TRIM | -31.2% | $753.0K | -$165.0K |
Key Facts
- 3 institutions trimmed RMD positions in Q3 2026, with aggregate net selling of -$2.1M
- 1 institution (Assenagon) added $7.0M, a 25.8% increase in shares
- Largest seller: Fjarde Ap-Fonden trimmed 28.0% of its position, reducing value by $1.9M
- Vontobel Holding cut 31.2% of its stake, and Congress Asset Management trimmed 29.7%
- 13F data is ~45 days stale; positions are as of quarter-end and may have been unwound
Financial Impact
3 institutions reduced holdings by a net $2.1M while 1 institution added $7.0M, resulting in net institutional buying of $4.9M across the cluster
Risk Factors
- 13F data is stale by ~45 days; current positioning may differ materially
- Small sample size (4 institutions) limits signal reliability
- No insider buying or selling corroboration provided
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-RMD-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | Institutional Cluster | $238.88 | awaiting T+20 | — | — |
Oct 7, 2026 20d ago | 144 | $226.73 | awaiting T+20 | — | — |
Oct 1, 2026 26d ago | DEFA14A | $218.89 | awaiting T+20 | — | — |
Oct 1, 2026 26d ago | DEF 14A | $218.89 | awaiting T+20 | — | — |
Oct 1, 2026 26d ago | Press Release | $218.89 | awaiting T+20 | — | — |
Sep 10, 2026 6w ago | Insider Cluster | $219.58 $226.73 | ▲ +3.26% | ▲ +1.13% | — |
Aug 11, 2026 11w ago | Insider Cluster | $224.84 $219.95 | ▼ −2.17% | ▼ −1.12% | — |
Jul 7, 2026 16w ago | Press Release | $205.84 $224.03 | ▲ +8.84% | ▲ +5.56% | — |
Jun 1, 2026 21w ago | Press Release | $182.75 $201.10 | ▲ +10.04% | ▲ +11.86% | — |
May 19, 2026 23w ago | Press Release | $209.14 $186.29 | ▲ +10.92% | ▲ +10.88% | — |
US Market Status
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