The cluster's bullish signal is driven by one large conviction buyer (Assenagon at $79.8M) and two smaller adds. The 45-day reporting lag means this Q3 accumulation is already stale — watch for Q4 2026 13F filings in January 2027 to confirm if the thesis has been unwound. No insider open-market insider buying to corroborate the institutional signal.
Executive Summary
Three asset managers accumulated $80.9M in Snap Inc during Q3 2026, led by Assenagon Asset Management more than tripling its position to $79.8M, while one Swedish pension fund exited a negligible $101K stake. The cluster is small in fund count but shows strong conviction from active managers, though the 45-day reporting lag means positions may have been adjusted since quarter-end.
Key Financial Metrics
Institutional Positions
Net institutional flow: $63.1M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +278.5% | $79.8M | $62.4M |
| Wealth Enhancement Advisory Services | ADD | +61.9% | $1.1M | $676.0K |
| Td Waterhouse Canada | ADD | +32.2% | $19.0K | $7.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fjarde Ap-Fonden /Fourth Swedish National | NEAR_EXIT | -100% | $101.0K | -$101.0K |
Key Facts
- 3 institutions accumulated $80.9M in SNAP during Q3 2026, net change +$63.1M
- Assenagon Asset Management doubled its position by 278.5% to 14.77M shares worth $79.8M
- Wealth Enhancement Advisory Services added 61.9% to 215.6K shares worth $1.1M
- Fjarde Ap-Fonden exited 22.8K shares worth $101K, a trivial position
- All three buyers are active asset managers, not passive/index funds, strengthening the signal
Financial Impact
3 institutions accumulated $80.9M in new buying vs $101K in selling, net inflow of $63.1M
Risk Factors
- 13F data is 45+ days stale — positions may have been unwound since quarter-end
- Only 3 buyers with one dominant fund (Assenagon at 98.7% of total buying — single-fund risk
- No insider buying to corroborate the institutional accumulation
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-SNAP-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | Institutional Cluster | $6.27 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | 144 | $6.27 | awaiting T+20 | — | — |
Sep 28, 2026 29d ago | Court Ruling | $5.34 | awaiting T+20 | — | — |
Sep 18, 2026 5w ago | Insider Cluster | $5.70 $6.27 | ▲ +10.00% | ▲ +10.91% | — |
Sep 11, 2026 6w ago | Insider Cluster | $5.84 $6.53 | ▲ +11.82% | ▲ +9.55% | — |
Aug 19, 2026 9w ago | Insider Cluster | $5.21 $5.53 | ▼ −6.14% | ▼ −6.14% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $5.33 $4.70 | ▲ +11.82% | ▲ +13.71% | — |
Jun 5, 2026 20w ago | Insider Cluster | $5.65 $4.75 | ▼ −15.93% | ▼ −17.56% | — |
May 20, 2026 22w ago | Insider Cluster | $5.68 $4.66 | ▲ +17.91% | ▲ +18.46% | — |
May 20, 2026 22w ago | Insider Cluster | $5.68 $4.66 | ▲ +17.91% | ▲ +18.46% | — |
US Market Status
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