/institutional-ownership

description: Track changes in institutional holdings and identify smart money moves from 13F filings

Institutional Ownership Analysis

⚠️ Data Verification — Do This Before Any Analysis

Before running any analysis, always retrieve the latest market data for the ticker:

1. **Fetch current price** — use web search or ask the user for the live price, 52-week range, and market cap. Never assume a price from training data. 2. **Confirm key figures** — recent earnings, revenue, key ratios (P/E, P/S, etc.) as applicable to this skill. 3. **State your data source** — fill in the `Data & Sources` header (next section) so the origin, as-of date, retrieval path, and confidence of every figure are explicit at the top of the output. 4. **Flag stale data explicitly** — if live data is unavailable, display this warning before proceeding:

> ⚠️ **Live data unavailable.** The following analysis uses training-data estimates which may be significantly out of date. Verify all prices and metrics before making any decisions.

Never silently substitute training-data estimates for current prices. When in doubt, ask the user to paste the latest quote.

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📋 Data & Sources Header — Open Every Output With It

The first thing in the output is this provenance block, filled in — never left as placeholders. It is the standard documented on the [Data & Accuracy](https://yennanliu.github.io/InvestSkill/data-and-accuracy.html) page and the first thing `result-validator` looks for:

Data & Sources
  As of:      <date the figures represent, e.g. 2026-06-30>
  Source:     <primary docs — SEC EDGAR 10-K/10-Q, company IR, FRED, exchange data …>
  Retrieval:  <pasted by user | web/tool retrieval | model memory>
  Confidence: <HIGH | MEDIUM | LOW>

• `Retrieval: model memory` must be paired with `Confidence: LOW` — memory is a placeholder until confirmed against a primary source.
• Mixed sources: list each with its own as-of date rather than blending them.
• Sources disagree on the same figure (a closing price, a deal term): prefer the primary source (SEC filing, company release, exchange data) over an aggregator, then the most recent dated one. Show both values with their sources and dates, say which you used and why, and never average them.
• Data the user pasted is reported as `pasted by user`; do not upgrade its confidence beyond what the user's own source supports.

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Comprehensive analysis of institutional investor holdings to identify "smart money" trends, ownership concentration, and investment signals from SEC 13F filings.

Analysis Framework

1. Institutional Ownership Overview

Provide current snapshot of institutional holdings:

**Aggregate Statistics**

• Total institutional ownership: [%] of shares outstanding
• Number of institutional holders: [N]
• Total shares held by institutions: [Number] shares
• Total value held: $[Amount]
• Float ownership by institutions: [%] (excl. insider holdings)

**Ownership Trend (4 Quarters)**

Quarter        Institutional %    # of Holders    Change from Prior
[Qn YYYY]          [%]                [N]              [±%]
[Qn-1 YYYY]        [%]                [N]              [±%]
[Qn-2 YYYY]        [%]                [N]              [±%]
[Qn-3 YYYY]        [%]                [N]              [±%]

**Trend Interpretation**

• **Increasing ownership**: Growing institutional interest = Bullish
• **Stable ownership**: Maintained confidence = Neutral to Bullish
• **Decreasing ownership**: Distribution or loss of confidence = Bearish

2. Top Institutional Holders

Identify and analyze largest institutional positions:

**Top 10 Holders Table**

| Rank | Institution | Type | Shares Held | Value ($M) | % of Portfolio | % of Company | Change (QoQ) | |------|-------------|------|-------------|------------|----------------|--------------|--------------| | 1 | Vanguard Group | Index | 45.2M | $6,780 | 0.8% | 8.5% | +2.1% | | 2 | BlackRock | Index | 38.1M | $5,715 | 0.6% | 7.2% | +1.5% | | 3 | State Street | Index | 22.3M | $3,345 | 1.2% | 4.2% | -0.3% | | 4 | Fidelity | Active | 18.7M | $2,805 | 2.1% | 3.5% | +15.2% | | 5 | ... | ... | ... | ... | ... | ... | ... |

**Holder Categories**

• **Index Funds** (Vanguard, BlackRock, State Street): Follow index weights, less signal
• **Active Managers** (Fidelity, T. Rowe Price, Wellington): Stock selection, more signal
• **Hedge Funds** (Bridgewater, Citadel, Renaissance): Tactical, high signal value
• **Pension Funds** (CalPERS, CalSTRS): Long-term, moderate signal
• **Sovereign Wealth Funds**: Very long-term, strategic positions

3. Quarter-over-Quarter Position Changes

Analyze recent changes in institutional holdings:

**New Positions (Initiated)**

• Institutions that added stock for first time in recent quarter
• Particularly meaningful if from notable investors
• Indicates new conviction or thesis development

| Institution | Shares | Value ($M) | % of Their Portfolio | Significance | |-------------|--------|------------|---------------------|--------------| | ARK Invest | 2.5M | $375 | 3.2% | High (active, thematic) | | ... | ... | ... | ... | ... |

**Increased Positions (>25% increase)**

• Institutions that significantly added to existing position
• Shows growing conviction
• More meaningful if they're "adding to winners"

| Institution | Previous Shares | New Shares | Change | New Value | Notes | |-------------|----------------|------------|--------|-----------|-------| | ValueAct Capital | 5.0M | 8.2M | +64% | $1,230M | Activist, 4th increase | | ... | ... | ... | ... | ... | ... |

**Decreased Positions (>25% decrease)**

• Institutions that significantly reduced holdings
• May indicate profit-taking, thesis change, or risk management
• Consider whether selling from highs or lows

| Institution | Previous Shares | New Shares | Change | Current Value | Reason | |-------------|----------------|------------|--------|---------------|--------| | Tiger Global | 12.0M | 4.5M | -62% | $675M | Re