Stem, Inc.: which funds bought and sold

Institutions that bought and sold Stem shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 26 institutions that filed 13F reports for both quarters added to or opened positions in Stem, and 30 cut or closed them. Together they added a net 239K shares, +12.1% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 167K shares (+22.9%); index fund managers were net buyers of 58K shares (+8.6%). 10 opened a new position and 11 sold out entirely.

Bought, Q2 2026 26 institutions, 10 of them new holders Sold, Q2 2026 30 institutions, 11 of them sold out

Net change, all compared +239K shares (+12.1%)

Net change, active managers +167K shares (+22.9%), 8 bought, 5 sold

Buyers versus sellers

institutions compared, 84

26 bought 28 30 sold

Active managers and hedge funds 8 bought · 5 sold · +167K

Index fund managers 5 bought · 1 sold · +58K

Other institutions 13 bought · 24 sold · +14K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Marshall Wace, LLP Hedge fund	+114K +39.2%	406K	$3.2M
Acadian Asset Management LLC Active manager	+64K +606.7%	75K	$579,000
Longaeva Partners L.P.	+48K New position	48K	$376,333
BNP Paribas Financial Markets	+40K +75.3%	93K	$727,064
Blackrock, Inc. Index funds	+30K +22.1%	164K	$1.3M
Citadel Advisors LLC Hedge fund	+24K New position	24K	$185,308
Xtx Topco Ltd	+19K +189.8%	29K	$230,254
Trexquant Investment LP Hedge fund	+19K +20.7%	111K	$864,098
Vanguard Capital Management LLC Index funds	+17K +5.1%	361K	$2.8M
Price T Rowe Associates Inc Active manager	+13K +91.6%	27K	$209,000
Engineers Gate Manager LP Hedge fund	+13K New position	13K	$99,187
Goldman Sachs Group Inc	+11K New position	11K	$88,612
Balyasny Asset Management L.P. Hedge fund	+9,717 New position	9,717	$75,890
Renaissance Technologies LLC Hedge fund	+7,907 +13.5%	66K	$519,224
Vanguard Fiduciary Trust Co Index funds	+7,180 +14.4%	57K	$444,373
Northern Trust Corp Index funds	+2,608 +14.0%	21K	$165,892
Royal Bank Of Canada	+1,423 +5.0%	30K	$231,000
Wells Fargo & Company	+1,053 +29.4%	4,630	$36,160
Steward Partners Investment Advisory, LLC	+1,000 +40.2%	3,487	$27,233
Geode Capital Management, LLC Index funds	+962 +1.0%	93K	$726,785

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Marshall Wace, LLP Hedge fund	+114K +39.2%	406K	$3.2M
Acadian Asset Management LLC Active manager	+64K +606.7%	75K	$579,000
Citadel Advisors LLC Hedge fund	+24K New position	24K	$185,308
Trexquant Investment LP Hedge fund	+19K +20.7%	111K	$864,098
Price T Rowe Associates Inc Active manager	+13K +91.6%	27K	$209,000
Engineers Gate Manager LP Hedge fund	+13K New position	13K	$99,187
Balyasny Asset Management L.P. Hedge fund	+9,717 New position	9,717	$75,890
Renaissance Technologies LLC Hedge fund	+7,907 +13.5%	66K	$519,224

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	−72K −41.1%	103K	$806,258
UBS Group AG	−28K −52.8%	25K	$196,281
Canada Pension Plan Investment Board	−21K Sold out	0	—
Virtu Financial LLC	−19K Sold out	0	—
Centiva Capital, LP Hedge fund	−15K Sold out	0	—
Susquehanna Portfolio Strategies, LLC	−12K Sold out	0	—
Morgan Stanley	−10K −21.6%	38K	$294,132
Bridgeway Capital Management, LLC Active manager	−10K −14.4%	60K	$465,476
Citigroup Inc	−8,688 −23.3%	29K	$222,788
Gsa Capital Partners LLP	−6,181 −5.7%	102K	$799,000
Ifp Advisors, Inc	−1,473 −99.7%	5	$39
Tower Research Capital LLC (TRC)	−1,236 Sold out	0	—
Group One Trading LLC	−994 −19.7%	4,054	$31,662
National Bank Of Canada	−470 −47.8%	514	$4,014
FMR LLC Active manager	−190 −22.7%	648	$5,061
Osaic Holdings, Inc.	−120 −14.6%	703	$5,488
Federated Hermes, Inc. Active manager	−98 Sold out	0	—
Toptier Wealth Management, LLC	−91 Sold out	0	—
Optiver Holding B.V.	−87 Sold out	0	—
Gamma Investing LLC	−82 −40.6%	120	$937

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	−72K −41.1%	103K	$806,258
Centiva Capital, LP Hedge fund	−15K Sold out	0	—
Bridgeway Capital Management, LLC Active manager	−10K −14.4%	60K	$465,476
FMR LLC Active manager	−190 −22.7%	648	$5,061
Federated Hermes, Inc. Active manager	−98 Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Longaeva Partners L.P.	48K	$376,333
Citadel Advisors LLCHedge fund	24K	$185,308
Engineers Gate Manager LPHedge fund	13K	$99,187
Goldman Sachs Group Inc	11K	$88,612
Balyasny Asset Management L.P.Hedge fund	9,717	$75,890
Simplex Trading, LLC	840	$6,560
Jpmorgan Chase & Co	712	$5,326
Barclays PLC	167	$1,304
American Capital Advisory, LLC	24	$188
Integrated Wealth Concepts LLC	12	$94

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Canada Pension Plan Investment Board	21K	$188,292
Virtu Financial LLC	19K	$166,000
Centiva Capital, LPHedge fund	15K	$132,308
Susquehanna Portfolio Strategies, LLC	12K	$105,682
Tower Research Capital LLC (TRC)	1,236	$10,926
Federated Hermes, Inc.Active manager	98	$866
Toptier Wealth Management, LLC	91	$804
Optiver Holding B.V.	87	$769
Advisory Services Network, LLC	43	$380
Mai Capital Management	37	$328

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 73
Ten largest holders: 71.5%
Index fund managers: 33.4%
Active managers and hedge funds: 40.6%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	8	5	3	2	+167K	+22.9%
Index fund managers	5	1	0	0	+58K	+8.6%
Other institutions	13	24	7	9	+14K	+2.5%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Stem.

Only managers that filed a holdings report for both quarters are compared (84 here). 1 other holder is left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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