The cluster is dominated by a single large add from Robeco, which accounts for 99% of the buying value. Monitor for any catalyst (earnings, guidance, or strategic update) that could explain this concentrated accumulation, as the 45-day reporting lag means positions may have shifted since quarter-end.
Executive Summary
A bullish institutional cluster formed in Ulta Beauty during Q3 2026, with four asset managers adding positions totaling $96.6M in net buying, led by Robeco Institutional Asset Management's $95.9M increase. One seller trimmed $17.8M, leaving a strong net positive signal from active managers.
Key Financial Metrics
Institutional Positions
Net institutional flow: $78.8M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Robeco Institutional Asset Management B.v. | ADD | +49.9% | $213.4M | $95.9M |
| Hb Wealth Management | ADD | +82.4% | $1.1M | $615.0K |
| Assetmark | ADD | +36.8% | $184.0K | $73.0K |
| Td Waterhouse Canada | ADD | +40% | $23.0K | $9.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | TRIM | -50.4% | $44.5M | -$17.8M |
Key Facts
- 4 institutional buyers added $96.6M in net new value, with Robeco alone adding $95.9M (+49.9% shares)
- 1 seller (Assenagon Asset Management) trimmed $17.8M (-50.4% of its position)
- Total net institutional inflow was approximately $78.8M across the cluster
- All buyers were active asset managers, not passive/index funds, strengthening the signal
Financial Impact
4 institutions accumulated $214.8M in holdings (net change +$96.6M) while 1 seller reduced by $17.8M, for a net cluster inflow of ~$78.8M
Risk Factors
- 13F data is 45+ days stale; positions may have been partially or fully unwound since quarter-end
- Single-fund concentration (Robeco = 99% of buying) makes the cluster less diversified than it appears
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-ULTA-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Institutional Cluster | $624.46 $625.33 | ▲ +0.14% | ▼ −0.57% | No price |
Sep 21, 2026 5w ago | Insider Cluster | $553.86 $543.81 | ▲ +1.81% | ▲ +1.09% | No price |
Aug 17, 2026 10w ago | 8-K | $493.33 $516.74 | ▲ +4.75% | ▲ +5.42% | No price |
Jun 15, 2026 19w ago | 144 | $463.68 $450.75 | ▼ −2.79% | ▼ −1.54% | No price |
Jun 9, 2026 20w ago | 8-K | $470.75 $476.42 | ▲ +1.20% | ▼ −0.50% | No price |
Jun 2, 2026 21w ago | 8-K | $470.81 $461.16 | ▼ −2.05% | ▼ −2.45% | No price |
May 19, 2026 23w ago | Court Ruling | $493.12 $504.05 | ▲ +2.22% | ▲ +2.02% | No price |
US Market Status
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