The cluster is dominated by active asset managers (not passive/index funds), suggesting conviction-driven buying rather than mechanical rebalancing. The Q3 earnings beat and raised guidance provide a fundamental catalyst, but the 45-day 13F reporting lag means these positions were taken at Q3-end prices (~$607/share) and may have been adjusted since. Monitor Q4 2026 13F filings for retention or exit patterns.
Executive Summary
Six institutional investors accumulated $102.3M in net new TDY positions during Q3 2026, led by Assenagon Asset Management doubling its stake to $127.3M and Robeco Institutional tripling its position to $21.1M.
Key Financial Metrics
Institutional Positions
Net institutional flow: $102.3B
▲ Buyers (6)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | DOUBLED | +235.7% | $127.3B | $85.6B |
| Robeco Institutional Asset Management B.v. | DOUBLED | +308.2% | $21.1B | $15.4B |
| Wealth Enhancement Advisory Services | ADD | +92.7% | $2.9B | $1.1B |
| Mather Group | ADD | +30.5% | $301.0M | $48.0M |
| Td Waterhouse Canada | ADD | +47.1% | $15.0M | $4.0M |
| Assetmark | ADD | +83.8% | $241.0M | $97.0M |
Key Facts
- 6 institutional buyers, 0 sellers; aggregate net buying of $102.3M
- Assenagon Asset Management doubled its stake (+235.7%) to $127.3M, adding $85.6M
- Robeco Institutional Asset Management tripled its position (+308.2%) to $21.1M, adding $15.4M
- Wealth Enhancement Advisory Services added 92.7% to $2.9M
- Cluster follows Q3 2026 earnings: non-GAAP EPS $6.72 (0.4% beat), raised FY guidance to $25.40-$25.50, and announced $1.1B Varex Imaging acquisition
- All buyers are active asset managers — no passive/index fund participation
Financial Impact
6 institutions accumulated $102.3M in net new TDY positions during Q3 2026; total institutional holdings in the cluster rose from $49.6M to $151.9M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Q3 revenue of $1,684.9M slightly missed $1.72B consensus, indicating top-line headwinds
- Pending $1.1B Varex acquisition adds integration risk and integration risk
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-TDY-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | Institutional Cluster | $620.47 $625.41 | ▲ +0.80% | ▲ +1.32% | No price |
Oct 21, 2026 6d ago | 8-K | $630.10 $620.47 | ▼ −1.53% | ▼ −0.35% | No price |
Aug 13, 2026 10w ago | Insider Cluster | $673.66 $679.67 | ▲ +0.89% | ▲ +1.09% | No price |
Aug 12, 2026 10w ago | 144 | $686.49 $673.66 | ▼ −1.87% | ▼ −2.57% | No price |
Aug 10, 2026 11w ago | 8-K | $690.25 $681.74 | ▼ −1.23% | ▼ −0.91% | No price |
Jul 22, 2026 13w ago | 8-K | $650.50 $651.22 | ▲ +0.11% | ▲ +1.35% | No price |
Apr 22, 2026 26w ago | 8-K | $652.17 $649.54 | ▼ −0.40% | ▼ −0.01% | No price |
US Market Status
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