The cluster suggests active managers see value in VLO at Q3-end prices. Monitor upcoming earnings and refining margin data for confirmation of the thesis. The 45-day lag means the cluster may already be priced in.
Executive Summary
Three asset managers added to their VLO positions in Q3 2026, with total buying of $75.8M, while one manager trimmed. The cluster is bullish, driven by active managers, but the 45-day reporting lag and small number of participants cap the signal's immediacy.
Key Financial Metrics
Institutional Positions
Net institutional flow: $69.2M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Assenagon Asset Management | ADD | +83.6% | $93.1M | $59.0M |
| Concurrent Investment Advisors | ADD | +94% | $7.4M | $4.9M |
| Td Waterhouse Canada | ADD | +84.6% | $18.5M | $11.9M |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Ninety One Uk | TRIM | -25.9% | $64.3M | $6.6M |
Key Facts
- 3 institutions added VLO positions totaling $75.8M in net buying value
- Assenagon Asset Management was the largest buyer, increasing its stake by 83.6% to $93.1M
- Only 1 seller (Ninety One UK) trimmed by 25.9%, but its position value still rose $6.6M due to price appreciation
- All buyers are active asset managers, not passive index funds, strengthening the signal
Financial Impact
3 institutions accumulated $75.8M in net new VLO positions while 1 institution reduced holdings by $6.6M (value change), for a net cluster inflow of approximately $69.2M
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end
- Only 4 institutions in the cluster — limited breadth reduces signal reliability
- No insider buying corroboration provided to strengthen the thesis
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-VLO-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $426.28 $419.28 | ▼ −1.64% | ▼ −1.12% | — |
Oct 16, 2026 9d ago | Institutional Cluster | $433.31 $433.42 | ▲ +0.03% | ▼ −0.31% | — |
Oct 6, 2026 20d ago | 3/A | $424.10 $443.80 | ▲ +4.65% | ▲ +5.07% | — |
Sep 18, 2026 5w ago | 8-K | $413.28 $393.27 | ▼ −4.84% | ▼ −6.39% | — |
Jul 30, 2026 12w ago | 8-K | $311.71 $311.44 | ▼ −0.09% | ▼ −0.75% | — |
May 8, 2026 24w ago | 8-K | $240.14 $247.01 | ▲ +2.86% | ▲ +2.63% | — |
Apr 30, 2026 25w ago | 8-K | $251.91 $246.31 | ▼ −2.22% | ▼ −2.44% | — |
Mar 19, 2026 31w ago | DEFA14A | $239.10 $237.26 | ▼ −0.77% | ▼ −1.87% | — |
US Market Status
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