Traders should monitor the next 10-Q for fundamental validation; a sustained break above recent volume-weighted average price would increase the cluster's credibility. Given the 45-day disclosure lag, some positions may have already adjusted.
Executive Summary
Simulations Plus (SLP) saw a highly concentrated institutional buying cluster in Q1 2026, with 12 firms accumulating a net of ~$1.9M in new value, led by a massive $1.8M position build from Renaissance Technologies (+807% to 181.5K shares). Only 2 sellers trimmed positions, notably Point72 cutting 35% of its stake.
Key Financial Metrics
Institutional Positions
Net institutional flow: $1.9M
▲ Buyers (12)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Renaissance Technologies | DOUBLED | +807.5% | $2.1M | $1.8M |
| Fidelity | DOUBLED | +539.8% | $340.0K | $258.0K |
| Canada Pension Plan Investment | DOUBLED | +389.7% | $168.0K | $115.0K |
| Federated Hermes | DOUBLED | +111% | $249.0K | $67.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Point72 | TRIM | -35% | $2.4M | -$1.4M |
| Rhumbline Advisers | TRIM | -61.2% | $955.0K | -$714.4K |
Key Facts
- 12 institutional buyers vs 2 sellers, with net institutional accumulation of ~$1.9M in Q1 2026
- Renaissance Technologies increased its stake by 807%, adding 161,500 shares to own 181,500 shares worth ~$2.1M
- Only 2 sellers: Point72 trimmed 35% (45,847 shares) and Rhumbline trimmed 61% (32,044 shares)
- Fidelity doubled its position (+539.8%) to 28,800 shares, though still small at $340K
- Canada Pension Plan (CPP) and Federated Hermes both more than doubled their holdings
Financial Impact
Total institutional buying added ~$1.9M in new value (net of $1.1M in trimming by 2 sellers), with Renaissance alone contributing $1.8M of the accumulation. Net aggregate change from filings: buyers $1.9M, sellers -$2.1M (previous-value basis).
Risk Factors
- 45-day lag means positions may have been partially unwound by now
- Renaissance's position, while large in relative terms, is only $2.1M absolute — a small bet for a quant fund
- Passive managers (Fidelity, Invesco) account for ~$400K of buying, diluting signal strength
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-SLP-2026-Q1 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 11d ago | 15-12G | — | awaiting T+1 | — | — |
Oct 8, 2026 19d ago | EFFECT | $18.50 | awaiting T+1 | — | — |
Oct 6, 2026 21d ago | 8-K | $18.50 | awaiting T+1 | — | — |
Oct 6, 2026 21d ago | 25-NSE | $18.50 | awaiting T+1 | — | — |
Aug 21, 2026 9w ago | DEFA14A | $18.40 $18.40 | · 0.00% | ▲ +0.29% | — |
Aug 13, 2026 10w ago | 8-K | $18.35 $18.36 | ▲ +0.05% | ▲ +0.53% | — |
Jul 22, 2026 13w ago | DEFM14A | $18.33 $18.34 | ▲ +0.05% | ▼ −0.05% | — |
Jul 9, 2026 15w ago | PREM14A | $18.24 $18.25 | ▲ +0.05% | ▲ +0.82% | — |
Jun 16, 2026 19w ago | 8-K | $18.24 $18.25 | ▲ +0.05% | ▲ +1.30% | — |
Jun 14, 2026 19w ago | Institutional Cluster | $16.37 $18.24 | ▲ +11.42% | ▲ +12.02% | — |
US Market Status
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