The cluster is dominated by active managers with conviction-sized adds (two ADD, one DOUBLED). Monitor next earnings for any steel pricing or guidance; if the thesis holds, expect further accumulation. If the 13F lag means the cluster may have already been unwound. No insider buying corroboration is present.
Executive Summary
Three active asset managers (Ninety One UK, Artemis, Assenagon) added $29.9M in STLD positions during Q3 2026, while one small advisor trimmed $1.3M. The net $28.6M inflow from conviction buyers (two ADD, one DOUBLED) signals a shared thesis on steel demand or capital returns, though 13F data is 45+ days stale.
Key Financial Metrics
Institutional Positions
Net institutional flow: $28.6M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Ninety One Uk | ADD | +87.1% | $48.5M | $21.7M |
| Artemis Investment Management | ADD | +57.6% | $15.6M | $5.4M |
| Assenagon Asset Management | DOUBLED | +255% | $4.0M | $2.8M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Concurrent Investment Advisors | TRIM | -51.8% | $2.5M | -$1.3M |
Key Facts
- 3 institutional buyers added $29.9M in net new value; 1 seller trimmed $1.3M
- Ninety One UK added 87.1% (117.1K → 219.0K shares, value $26.9M → $48.5M)
- Assenagon DOUBLED its position (+255%, 5.1K → 18.1K shares, value $1.2M → $4.0M)
- Artemis added 57.6% (44.7K → 70.4K shares, value $10.3M → $15.6M)
- Concurrent Investment Advisors trimmed 51.8% (10.8K → 5.2K shares, value $2.5M → $1.2M)
- All four funds are active asset managers — no passive/index fund signal
Financial Impact
Three active managers accumulated $29.9M in new STLD positions; one trimmed $1.3M, for net institutional inflow of $28.6M during Q3 2026.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- No insider buying corroboration — the signal is institutions-only, no insider buying would strengthen the signal if present
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-STLD-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | 8-K | $244.37 $246.80 | ▼ −0.99% | ▼ −0.92% | — |
Oct 19, 2026 8d ago | 8-K | $244.37 $246.80 | ▲ +0.99% | ▲ +0.92% | — |
Oct 16, 2026 11d ago | Institutional Cluster | $240.54 $241.53 | ▲ +0.41% | ▲ +0.84% | — |
Sep 18, 2026 5w ago | 8-K | $234.70 $233.10 | ▼ −0.68% | ▼ −1.95% | — |
Aug 14, 2026 10w ago | 8-K | $255.77 $228.68 | ▼ −10.59% | ▼ −9.22% | — |
Aug 4, 2026 12w ago | 8-K | $265.10 $263.69 | ▼ −0.53% | ▼ −0.43% | — |
Jul 21, 2026 14w ago | 8-K | $233.52 $250.27 | ▲ +7.17% | ▲ +8.40% | — |
Jun 18, 2026 18w ago | 8-K | $249.91 $251.00 | ▲ +0.44% | ▲ +2.10% | — |
May 15, 2026 23w ago | Insider Cluster | $229.34 $240.03 | ▲ +4.66% | ▲ +3.70% | — |
May 8, 2026 24w ago | 8-K | $235.10 $234.68 | ▼ −0.18% | ▼ −1.64% | — |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers