The cluster lacks active fund participation, likely reflecting passive index rebalancing (e.g., Russell reconstitution). Watch for subsequent active manager 13F filings or company-specific catalysts (antimony supply/news) to validate the thesis.
Executive Summary
Four passive institutional buyers (dominated by State Street doubling to $36.4M) added $35.1M in UAMY positions during Q3 2025, while one passive seller trimmed $628K. The cluster is entirely passive, suggesting index rebalancing rather than fundamental conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: $35.1M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| State Street | DOUBLED | +428.8% | $36.4M | $34.0M |
| Fidelity | ADD | +33.1% | $5.0K | $4.0K |
| BofA | DOUBLED | +251.5% | $719.0K | $647.0K |
| Wells Fargo | ADD | +76.1% | $536.0K | $429.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | TRIM | -60.7% | $5.3M | $628.0K |
Key Facts
- 4 buyers (net +$35.1M), 1 seller (net +$628K but trimmed shares)
- State Street doubled its stake from $2.4M to $36.4M (+428.8% shares)
- All participants are mega-passive funds (State Street, Fidelity, BofA, Wells Fargo, Morgan Stanley)
- Morgan Stanley trimmed 60.7% of its shares but position value increased slightly due to price movement
- Net buyer/seller conviction is bullish in aggregate but entirely passive in source
Financial Impact
Net institutional accumulation of approximately $35.1M across 4 buyers, with State Street accounting for $34.0M of that inflow. One seller reduced share count but saw slight value increase.
Risk Factors
- All funds are passive; the buying may be mechanical index tracking, not conviction
- 45-day reporting lag means positions may have been unwound already
- Heavy concentration in a single passive buyer (State Street)
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-UAMY-2025-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 8-K | $3.08 | awaiting T+20 | — | — |
Oct 2, 2026 25d ago | 8-K | $3.99 | awaiting T+20 | — | — |
Oct 2, 2026 25d ago | 8-K | $3.99 | awaiting T+20 | — | — |
Sep 2, 2026 7w ago | Insider Cluster | $5.29 $4.13 | ▼ −21.93% | ▼ −21.78% | — |
Sep 1, 2026 7w ago | Insider Cluster | $5.29 $4.13 | ▼ −21.93% | ▼ −22.02% | — |
Aug 31, 2026 8w ago | Insider Cluster | $4.68 $4.17 | ▼ −10.90% | ▼ −11.01% | — |
Aug 25, 2026 9w ago | 8-K | $5.20 $4.60 | ▼ −11.54% | ▼ −11.79% | — |
Aug 19, 2026 9w ago | 8-K | $5.73 $4.61 | ▼ −19.55% | ▼ −18.71% | — |
Aug 11, 2026 10w ago | 8-K | $4.97 $4.93 | ▲ +0.80% | ▼ −1.09% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $7.33 $6.62 | ▼ −9.69% | ▼ −11.58% | — |
US Market Status
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