The cluster is dominated by passive/index rebalancing, not active conviction. Monitor for active manager entries or exits in future quarters for a stronger signal.
Executive Summary
Three mega-passive institutional investors (BlackRock, State Street, Fidelity) increased their VOXR holdings in Q3 2025, with aggregate buying of $12.5M. The signal is weak and likely reflects index rebalancing rather than a fundamental thesis.
Key Financial Metrics
Institutional Positions
Net institutional flow: $12.5M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| BlackRock | ADD | +65.5% | $21.4M | $11.9M |
| State Street | ADD | +38.8% | $1.2M | $586.0K |
| Fidelity | DOUBLED | +1928.1% | $3.0K | $3.0K |
Key Facts
- 3 institutional buyers, 0 sellers in Q3 2025
- Aggregate buying value: $12.5M (current holdings $22.7M)
- All buyers are mega-passive/index funds (BlackRock, State Street, Fidelity)
- BlackRock added 1.97M shares (+65.5%), value increased by $11.9M
- State Street added 80.9K shares (+38.8%), value increased by $586K
- Fidelity's position is negligible ($3K current value, +$3K change)
Financial Impact
3 institutions accumulated $12.5M in new VOXR positions during Q3 2025, with current holdings totaling $22.7M. No selling activity.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- Passive buying provides no fundamental thesis or catalyst
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-VOXR-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 25d ago | 6-K | $5.03 $5.12 | ▲ +1.79% | ▲ +0.63% | — |
Sep 28, 2026 29d ago | 6-K | $5.11 $5.03 | ▼ −1.57% | ▼ −2.77% | — |
Sep 14, 2026 6w ago | 6-K | $5.65 $5.60 | ▼ −0.89% | ▼ −0.99% | — |
Sep 2, 2026 7w ago | 6-K | $5.57 $5.74 | ▲ +3.05% | ▲ +4.01% | — |
Aug 20, 2026 9w ago | 6-K | $5.54 $5.76 | ▲ +3.97% | ▲ +2.86% | — |
Aug 12, 2026 10w ago | 6-K | $5.35 $5.54 | ▲ +3.55% | ▲ +5.52% | — |
Jun 29, 2026 17w ago | 6-K | $4.77 $4.57 | ▼ −4.19% | ▼ −5.58% | — |
Jun 11, 2026 19w ago | 6-K | $5.01 $5.36 | ▲ +6.99% | ▲ +6.55% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $5.01 $5.36 | ▲ +6.99% | ▲ +6.55% | — |
May 27, 2026 21w ago | 6-K | $5.82 $5.74 | ▼ −1.37% | ▼ −1.69% | — |
US Market Status
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