The cluster is entirely passive/index-driven with no active manager participation, so the signal is weak. Monitor next earnings for any fundamental catalyst that could shift the bearish analyst consensus. The historical calibration shows score-6 reports on ZUMZ have a 34% win rate with a net negative average alpha — avoid over-weighting this cluster as a directional signal.
Executive Summary
A mixed institutional cluster in ZUMZ for Q3 2025 shows three passive buyers (Fidelity, Schwab, Morgan Stanley) adding $7.9M in net new holdings, while two passive sellers (BofA, UBS) trimmed $1.1M. All five funds are mega-passive index managers, meaning the moves likely reflect index rebalancing or portfolio drift rather than a shared active thesis. The net buying of $6.8M is modest relative to the $310M market cap and carries limited directional signal.
Key Financial Metrics
Institutional Positions
Net institutional flow: $6.8M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Fidelity | ADD | +58.4% | $16.0K | $9.0K |
| Schwab | ADD | +27.2% | $8.8M | $4.1M |
| Morgan Stanley | DOUBLED | +167% | $5.1M | $3.8M |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| BofA | NEAR_EXIT | -83.4% | $1.3M | -$1.0M |
| UBS | TRIM | -36.4% | $1.9M | -$113.5K |
Key Facts
- 3 buyers added $7.9M in net new holdings; 2 sellers reduced by $1.1M
- All five institutions are mega-passive index managers (Fidelity, Schwab, Morgan Stanley, BofA, UBS)
- Morgan Stanley doubled its position (+167%), adding $3.8M in value
- BofA nearly exited (-83.4%), selling $1.0M of its $1.3M position
- Net aggregate change of +$6.8M represents ~2.2% of ZUMZ's $310M market cap
- Analyst consensus is 0% bullish (0 Buy, 5 Hold, 3 Sell/Strong Sell)
Financial Impact
Three passive buyers accumulated $13.9M in holdings (net +$7.9M), while two passive sellers reduced by $1.1M. Net institutional inflow of ~$6.8M.
Risk Factors
- 13F data is 45+ days stale; positions may have been unwound
- All participants are passive managers — moves likely reflect index rebalancing, not active conviction
- Analyst consensus is heavily bearish (0% bullish) with no buy ratings
- Historical reports on ZUMZ show negative average alpha at T+20 (-2.04%)
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-ZUMZ-2025-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 22d ago | Press Release | $14.55 $13.20 | ▲ +9.28% | ▲ +9.06% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $18.51 $17.46 | ▼ −5.67% | ▼ −6.11% | — |
Jun 4, 2026 17w ago | 8-K | $17.39 $18.39 | ▲ +5.75% | ▲ +5.18% | — |
Jun 4, 2026 17w ago | Press Release | $17.39 $18.39 | ▼ −5.75% | ▼ −5.18% | — |
Apr 24, 2026 23w ago | DEFA14A | $24.58 $22.87 | ▼ −6.96% | ▼ −7.36% | — |
Mar 12, 2026 29w ago | Press Release | $21.43 $20.86 | ▼ −2.66% | ▼ −0.54% | — |
US Market Status
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