The cluster is small and dominated by asset managers, not activist or high-conviction funds. The lack of insider buying weakens the signal. Monitor Q4 2026 earnings for continued fundamental improvement; the cluster alone does not indicate a strong directional thesis.
Executive Summary
Three asset managers increased ZION holdings in Q3 2026, adding $1.5M net, while Temasek trimmed $987K. The cluster follows a Q3 earnings beat (EPS $1.78 vs $1.71 consensus) but is small in scale relative to the $9.6B market cap.
Key Financial Metrics
Institutional Positions
Net institutional flow: $513.0K
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Exchange Traded Concepts | DOUBLED | +177.6% | $666.0K | $401.0K |
| Wealth Enhancement Advisory Services | ADD | +38.3% | $6.4M | $819.0K |
| Hb Wealth Management | ADD | +44.3% | $1.2M | $276.0K |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Temasek Holdings (Private) | TRIM | -67.3% | $1.4M | -$987.0K |
Key Facts
- Three asset managers (Exchange Traded Concepts, Wealth Enhancement Advisory Services, Hb Wealth Management) increased ZION positions in Q3 2026.
- Exchange Traded Concepts doubled its stake (+177.6%), adding $401K in value.
- Wealth Enhancement Advisory Services added 38.3% ($819K increase) to become the largest buyer by dollar amount.
- Temasek Holdings trimmed 67.3% of its position, reducing value by $987K.
- Net institutional buying was $1.5M, with total selling of $987K, for a net inflow of approximately $513K.
- The cluster follows Zions' Q3 2026 earnings beat (EPS $1.78 vs $1.71 consensus) reported 9 days prior.
- No insider open-market buying was detected (confluence score 0/100).
Financial Impact
Net institutional buying of approximately $513K (3 buyers adding $1.5M, 1 seller reducing $987K). Total cluster value is $8.2M, representing less than 0.1% of Zions' $9.6B market cap.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound since quarter-end.
- No insider buying corroborates the institutional accumulation (confluence score 0/100).
- Cluster size is immaterial relative to market cap; unlikely to move the stock.
- Adjusted pre-provision net revenue declined 4% YoY in Q3, suggesting underlying earnings quality concerns.
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-ZION-2026-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | Institutional Cluster | $65.41 | awaiting T+5 | awaiting T+5 | No price |
Oct 19, 2026 10d ago | Press Release | No price | awaiting T+5 | awaiting T+5 | No price |
Oct 19, 2026 10d ago | 8-K | $64.59 $65.68 | ▲ +1.69% | ▲ +1.61% | No price |
Sep 25, 2026 5w ago | Court Ruling | $63.19 $63.28 | ▲ +0.14% | ▼ −1.06% | No price |
Sep 16, 2026 6w ago | Press Release | $65.47 $62.65 | ▼ −4.31% | ▼ −6.87% | No price |
Aug 6, 2026 12w ago | Court Ruling | $70.32 $72.20 | ▲ +2.67% | ▲ +2.28% | No price |
Aug 5, 2026 12w ago | Insider Cluster | $70.58 $71.61 | ▲ +1.46% | ▲ +0.25% | No price |
Aug 5, 2026 12w ago | Insider Cluster | $70.58 $71.61 | ▲ +1.46% | ▲ +0.25% | No price |
Jul 30, 2026 13w ago | Press Release | $69.70 $70.32 | ▲ +0.89% | ▼ −2.62% | No price |
Jul 20, 2026 14w ago | Press Release | $69.05 $68.52 | ▼ −0.77% | ▲ +0.46% | No price |
US Market Status
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