Forty-three of the 58 top-200 alpha cohort holders in $HON filed new positions in Q1 2026 — a near-wholesale entry into the name from a group that held it only thinly before. Hamel Associates, Inc. initiated at 1.79% weight; Rokos Capital Management LLP came in at 0.85%.
Among the 14 holders carrying positions from the prior quarter, the picture is broadly constructive but undramatic. Wellington Management Group LLP added +0.26pp to reach 0.70%. Nexus Investment Management ULC nudged up +0.15pp to 0.96%. Sandler Capital Management, the second-largest prior holder at 0.98%, trimmed a negligible -0.02pp. Banco Santander, S.A. was the sharpest prior-quarter cutter, down -0.12pp to 0.12%. Corsicana & Co. is the sole exit, liquidating a 0.24% position entirely.
The cohort's average weight across all 58 holders sits at 0.28%, with a range of 0.0% to 1.79%. That average is pulled up almost entirely by a handful of larger initiators; the median new position is well below 0.20%, suggesting most of the 43 initiators are establishing starter stakes rather than high-conviction allocations.
Forty-three simultaneous initiations in a single quarter is structurally unusual. Whether that reflects index-rebalancing mechanics, a common benchmark addition, or something else entirely is not answerable from 13F data alone — but the breadth of entry, concentrated in one quarter with positions clustered at the low end, warrants noting.