The cluster is dominated by one large seller (Assenagon) exiting a significant position, while smaller buyers added modestly. With no insider buying corroboration and a 45-day reporting lag, the signal is weak. Monitor upcoming earnings and same-store sales data for fundamental catalysts that may explain the divergence.
Executive Summary
A mixed institutional cluster for Starbucks in Q3 2026 shows four asset managers adding positions totaling $63.1M in current holdings (net +$49.3M), while two large sellers reduced holdings by $298.8M. The net selling pressure from Assenagon Asset Management ($282.2M reduction) and Flossbach Von Storch ($16.6M reduction) dominates the cluster in dollar terms, creating a mixed signal with a bearish tilt in magnitude.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$249.5M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Robeco Institutional Asset Management B.v. | DOUBLED | +1649.4% | $50.3M | $47.2M |
| Abn Amro Investment Solutions | ADD | +30% | $9.4M | $1.5M |
| Prime Capital Investment Advisors | ADD | +28.6% | $3.3M | $510.0K |
| Atwood & Palmer | DOUBLED | +147.3% | $48.0K | $27.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | NEAR_EXIT | -85.6% | $325.3M | -$282.2M |
| Flossbach Von Storch Se | NEAR_EXIT | -96.6% | $17.2M | -$16.6M |
Key Facts
- 4 institutional buyers added $49.3M in net new value, led by Robeco (+$47.2M, doubling its stake)
- 2 institutional sellers reduced holdings by $298.8M, led by Assenagon Asset Management (-$282.2M, an 85.6% reduction)
- Net institutional selling of approximately $249.5M across the cluster
- No open-market insider buying was detected; insider activity was limited to small sells totaling $214K in the prior 30 days
- All participants are asset managers (no activist or family office involvement)
Financial Impact
Total institutional buying of $63.1M vs. selling of $298.8M, resulting in net outflow of approximately $249.5M. The largest single move was Assenagon's $282.2M reduction, representing about 0.24% of Starbucks' $117.1B market cap.
Risk Factors
- 13F data is 45+ days stale; positions may have been reversed since quarter-end
- The cluster is dominated by one seller (Assenagon), making the signal less robust than a broad-based sell-off
- No insider buying to corroborate the bullish side of the cluster
- All participants are asset managers; no activist or event-driven funds involved
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-SBUX-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 today | 8-K | $105.90 | awaiting T+60 | awaiting T+60 | No price |
Oct 28, 2026 1d ago | Institutional Cluster | $103.20 | awaiting T+60 | awaiting T+60 | No price |
Sep 24, 2026 5w ago | 8-K | $93.65 | awaiting T+60 | awaiting T+60 | No price |
Sep 16, 2026 6w ago | ANALYST-UPGRADE | $97.34 | awaiting T+60 | awaiting T+60 | No price |
Jun 23, 2026 18w ago | Court Ruling | $103.53 $95.83 | ▼ −7.44% | ▼ −11.32% | No price |
Jun 14, 2026 19w ago | Institutional Cluster | $101.59 $100.04 | ▼ −1.53% | ▼ −2.53% | No price |
Jun 12, 2026 19w ago | 8-K | $101.59 $100.04 | ▼ −1.53% | ▼ −2.53% | No price |
Jun 11, 2026 20w ago | Institutional Cluster | $102.28 $104.47 | ▲ +2.14% | ▼ −2.25% | No price |
May 26, 2026 22w ago | Court Ruling | $102.10 $107.08 | ▲ +4.88% | ▲ +2.84% | No price |
May 20, 2026 23w ago | 8-K | $104.11 $107.77 | ▲ +3.52% | ▼ −0.52% | No price |
US Market Status
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