Forty-three of the top-200 alpha managers initiated positions in $WMT during Q1 2026, with just one exit and one addition on record — making new entry the overwhelming structural story. Hamel Associates initiated at 4.97% portfolio weight; Legacy Wealth Management entered at 2.79%. The cohort now counts 73 holders, up from roughly 29 the prior quarter.
Cypress Capital Group, the sole manager classified as having added rather than initiated, lifted its position from 0.37% to 1.96% (+1.60pp). Among the 28 holders classified as held, Rokos Capital Management trimmed most sharply, cutting from 0.58% to 0.18% (-0.40pp), while ProVise Management Group reduced from 0.38% to 0.13% (-0.24pp). Connor, Clark & Lunn Investment Management — the one exit — closed a 0.38% position entirely.
The cohort's average position weight sits at 0.49%, with a range spanning 0.00% to 4.97%. That spread is wide: the top five holders by weight account for a disproportionate share of cohort exposure, while the majority of initiations landed below 0.50% — suggesting broad but shallow new interest rather than concentrated conviction.
Forty-three first-time filers in a single quarter is a structurally unusual intake for any name; the median initiation weight of roughly 0.35% implies these are largely benchmark-adjacent allocations, not high-conviction new longs. The one exit and zero outright trims among prior holders add a further asymmetry worth noting.
Generated from public SEC 13F filings. Not investment advice.