The concentrated buying by active managers, especially the large Artemis add and the extreme conviction from Assetmark, suggests a catalyst-driven thesis. Monitor Twilio's next earnings for revenue acceleration or margin expansion that could validate the cluster's positioning. The 45-day reporting lag means the cluster may have already been unwound — watch for any insider selling or negative pre-announcements.
Executive Summary
Seven institutional asset managers accumulated $128.5M in net new TWLO positions during Q3 2026, led by Artemis Investment Management ($95.6M add) and Assetmark ($17.3M add), while only two small sellers trimmed $113K combined. The cluster is overwhelmingly bullish, with active managers driving the signal and no passive/index fund participation, suggesting a shared thesis around Twilio's improving fundamentals or a catalyst.
Key Financial Metrics
Institutional Positions
Net institutional flow: $128.5M
▲ Buyers (7)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Farther Finance Advisors | ADD | +98.7% | $1.7M | $1.1M |
| Artemis Investment Management | ADD | +58.9% | $172.0M | $95.6M |
| Concurrent Investment Advisors | DOUBLED | +150% | $12.1M | $8.7M |
| Td Waterhouse Canada | DOUBLED | +217.6% | $4.3M | $3.4M |
| Assetmark | DOUBLED | +6031.7% | $17.5M | $17.3M |
| Abn Amro Investment Solutions | ADD | +32.6% | $3.1M | $1.5M |
| Hb Wealth Management | ADD | +42.4% | $1.7M | $883.0K |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Mather Group | TRIM | -57.4% | $106.0K | -$42.0K |
| Assenagon Asset Management | TRIM | -29% | $24.9M | $155.0K |
Key Facts
- 7 institutional buyers added $128.5M in net new TWLO positions during Q3 2026
- Artemis Investment Management added 218K shares worth $95.6M, the largest single buyer
- Assetmark increased its position by 6,032% (from 977 to 59.9K shares, value +$17.3M)
- Only 2 sellers trimmed $113K combined, both small relative to buying activity
- All participants are active asset managers; no passive/index funds in the cluster
Financial Impact
7 institutions accumulated $212.5M in total TWLO holdings, with net buying of $128.5M, while 2 sellers reduced by only $113K
Risk Factors
- 13F data is 45+ days stale; positions may have been partially or fully unwound
- No insider buying corroborates the cluster — institutions alone may be early or wrong
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-TWLO-2026-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $261.79 | awaiting T+20 | — | — |
Oct 2, 2026 25d ago | Insider Cluster | $300.91 | awaiting T+20 | — | — |
Aug 19, 2026 9w ago | Insider Cluster | $219.89 $243.84 | ▲ +10.89% | ▲ +10.76% | — |
Aug 10, 2026 11w ago | 144 | $255.95 $227.19 | ▼ −11.24% | ▼ −10.18% | — |
Jul 8, 2026 15w ago | Insider Cluster | $218.60 $193.20 | ▼ −11.62% | ▼ −13.86% | — |
Jul 7, 2026 16w ago | Insider Cluster | $215.50 $193.22 | ▼ −10.34% | ▼ −13.61% | — |
Jul 2, 2026 16w ago | Insider Cluster | $209.08 $196.59 | ▼ −5.97% | ▼ −6.82% | — |
Jun 17, 2026 18w ago | 8-K | $186.17 $206.70 | ▲ +11.03% | ▲ +10.49% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $206.62 $218.60 | ▲ +5.80% | ▲ +3.91% | — |
Jun 3, 2026 20w ago | Insider Cluster | $235.39 $209.31 | ▲ +11.08% | ▲ +9.45% | — |
US Market Status
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