The cluster is dominated by active managers (Meitav, Assenagon) with high-conviction moves (NEW and DOUBLED), suggesting a catalyst-driven thesis. However, the 45-day reporting lag means these positions may already be unwound, and the lack of insider buying weakens the signal. Monitor for a subsequent 13F filing or a Form 4 cluster to confirm conviction. The stock's 86% analyst bullish consensus provides a supportive backdrop, but historical calibration warns of negative alpha at T+20 for similar setups.
Executive Summary
A bullish institutional cluster formed in TEVA during 2026-Q2, with four asset managers adding $400.6M in net new holdings, led by a $336.9M new position from Meitav Investment House and a $63.2M doubling by Assenagon Asset Management. The buying is concentrated among active managers, suggesting a shared thesis around TEVA's generic and specialty pharmaceutical pipeline, but the 45-day reporting lag and lack of insider buying (confluence score 18/100, divergent) temper conviction. Historical calibration shows TEVA reports at this impact level have underperformed the S&P 500 by an average of -2.12% at T+20 with a 40% win rate, and score-6 filings show a negative net alpha, warranting a cautious score.
Key Financial Metrics
Institutional Positions
Net institutional flow: $399.6M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Meitav Investment House | NEW | +100% | $336.9M | $336.9M |
| Assenagon Asset Management | DOUBLED | +128.1% | $103.5M | $63.2M |
| Wealth Enhancement Advisory Services | DOUBLED | +128.1% | $621.0K | $372.0K |
| Farther Finance Advisors | ADD | +29.3% | $488.0K | $151.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Davenport & Co | TRIM | -35.3% | $3.7M | -$1.0M |
Key Facts
- 4 institutional buyers added $400.6M in net new TEVA holdings in Q2 2026
- Meitav Investment House initiated a new $336.9M position, the largest single move
- Assenagon Asset Management doubled its stake to $103.5M
- Only 1 seller (Davenport & Co) trimmed $1.0M, a negligible offset
- No insider open-market buying was detected, creating a divergent signal with the institutional cluster
- Historical TEVA reports at this impact level show a 40% win rate and negative alpha vs SPY at T+20
Financial Impact
4 institutions accumulated $400.6M in new TEVA holdings, while 1 seller reduced by $1.0M, for net institutional buying of $399.6M
Risk Factors
- 45-day 13F reporting lag: positions may have been reduced or exited since quarter-end
- No insider buying to corroborate the institutional thesis (confluence score 18/100, divergent)
- Historical TEVA reports at this impact level have a 40% win rate and negative alpha vs SPY at T+20
- Single large position (Meitav $336.9M) dominates the cluster, creating concentration risk
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-TEVA-2026-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Press Release | $36.35 $39.19 | ▲ +7.81% | ▲ +8.31% | — |
Sep 8, 2026 24d ago | 424B5 | $36.76 $39.25 | ▲ +6.77% | ▲ +7.89% | — |
Sep 2, 2026 4w ago | Court Ruling | $37.49 $36.35 | ▼ −3.04% | ▼ −2.08% | — |
Aug 28, 2026 5w ago | Press Release | $36.44 $36.36 | ▼ −0.22% | ▼ −0.33% | — |
Aug 25, 2026 5w ago | Court Ruling | $38.10 $36.20 | ▼ −4.99% | ▼ −4.46% | — |
Aug 25, 2026 5w ago | Insider Cluster | $38.10 $36.20 | ▼ −4.99% | ▼ −4.46% | — |
Aug 10, 2026 7w ago | Insider Cluster | $36.14 $36.46 | ▲ +0.89% | ▲ +0.93% | — |
Aug 5, 2026 8w ago | Insider Cluster | $34.81 $36.45 | ▲ +4.70% | ▲ +3.49% | — |
Jul 31, 2026 9w ago | Court Ruling | $35.01 $35.36 | ▲ +1.00% | ▼ −2.51% | — |
Jul 29, 2026 9w ago | 8-K | $34.71 $34.72 | ▲ +0.03% | ▼ −5.50% | — |
US Market Status
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